The Humble Libertarian

Building a small army to take over the world and... leave everybody alone.


Monday, July 23, 2012

What Happens When Governments No Longer Have Money to Pay Entitlements and Pensions?




Greece is broke. Spain is broke. Portugal is broke. Italy is nearly broke. Bailout requests continue to mount. Many nations simply borrowed heavily to sustain an unsustainable socialist cradle to the grave paradise. Folks are protesting in the streets in big numbers. They are protesting cuts in entitlements. They are protesting cuts in public sector pensions. They are protesting cuts in healthcare benefits. They are protesting the lack of jobs.

But they can protest all they want. At the end of the day, broke is still broke, bankrupt is still bankrupt and there literally is no money to pay promised benefits. As the debt mounts, more and more revenues are siphoned off just to service the gargantuan debt which in turn decreases the amount of money left over for entitlements.
Read the rest here
Judy Morris Report

Judy Morris,
Blogger, THL
Articles | Website