The U.S. Should Not Bail Greece Out od Debt

The U.S. Should Not Bail Greece Out od Debt

February 13, 2010 0 Comments

No, the U.S. should not bail out Greece or the other PIGS that are being punished by the bond market. It doesn’t pass the grown man test. After two years of picking taxpayers’ pockets to solve one crisis after another, we have to draw the line somewhere–lets get started now.

Greece’s financial crisis is a self-inflicted wound. Their government simply spent them into the poorhouse while Greek voters cheered them on. They need to learn from their mistakes so they don’t keep spending in the future. And the banks and other investors who loaned them money knew they were taking a risk. No Way should the U.S. taxpayers pay the price.

If Greece defaults on its debt the world will not end; adult investors will just lose some money. Don’t let anyone scare us into another TARP mistake.

It MAY make sense for the Europeans (Germany) to bail out Greece because they have skin in the game–they have admitted Greece into the EU and their currency (the Euro) is at risk. Greece is only 2% of EU economy. They can handle it.

JR

John Rutledge

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