Romanian Government Collapses ... Mainstream Media doesn't notice.

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#1 Thu, Feb 9, 2012 - 12:44am
Paladex
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Romanian Government Collapses ... Mainstream Media doesn't notice.

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Apparently Romanians don't like all their tax dollars being used to pay interest on government debt.

https://latimesblogs.latimes.com/world_now/2012/02/romania-government-to...

This is the inevitable result of "austerity" measures: interest payments consume more and more money until there's nothing left for the functions that people expect their governments to provide.

This is definitely a cautionary tale for the USA. Democrats talk about raising taxes on the wealthy, Republicans talk about cutting social services, but BOTH sides have run up the national credit card bill to the point that the debt has become a black hole, sucking in money and only getting larger. Take ALL the money from the rich, and cut ALL social services, and you'd STILL have a debt so huge that it could never be paid off.

Edited by: Paladex on Nov 8, 2014 - 5:02am