Instead of modeling the U.S. economy on successful states such as Maryland. New Jersey or Connecticut, Obama, Pelosi, Reid and other liberal lemmings decided to model the U.S. economy on California.

California is technically bankrupt so the result was predictable to all but the brain dead, and the U.S. is now heading for bankruptcy within the next ten years.

Ten years obviously seemed a long way off, so the administration is now speeding up America’s financial collapse by seemingly switching to a different economic model which is similar to the ones that are being used by the PIIGS, meaning Portugal, Ireland, Italy, Greece, and Spain all of whom are awash in debts.

Why The U.S. Financial System Is Collapsing

The increasing size of the federal work force is usually an early indication of what lies ahead and the Bureau of Labor Statistics reports that in the last year the federal government added 86,000 permanent (non-Census) jobs to the rolls.

And they were also high-paying jobs at that:

The number of federal salaries over $100,000 per year has increased by nearly 50% since the beginning of the recession and the average federal worker earns 77% more than the average private-sector worker.

To pay for this bigger and more expensive government, the private sector will obviously have to bear a heavier tax burden far into the future, which will likely suppress the innovation and entrepreneurship that creates growth and real opportunity.

And If No Changes Are Made Very Quickly

If these trends are not reversed, it’s hard to see how more and more Americans, especially younger Americans, will not be tempted into taking Government jobs that offer:

Better wages.

Offers the best job protection.

Allows the earliest retirement.

And guarantees the most lavish pensions.

A Look At Why Europe Is Going Bust

According to statistics from the Organization for Economic Cooperation and Development, the average Italian enjoys 42 days of vacation per year, whilst the average American has just 16.

The ISSP (International Social Survey Program) asked Americans and Europeans whether they believe;

“It is the responsibility of the government to reduce the differences in income between people with high incomes and those with low incomes?”.

In virtually all of Western Europe more than 50% thought that it was the government’s responsibility and in Spain 77% thought so.

Only 33% of Americans agree with income redistribution.

* The International Social Survey Program is a collaboration between different nations conducting surveys covering topics which are useful for social science research. The ISSP researchers develop questions which are meaningful and relevant to all countries which can be expressed in an equal manner in different languages. The results of the surveys provide a cross-national and cross-cultural perspective to individual national studies. As of 2009 there were 46 member countries.

In Greece, which just got bailed out, there are riots and its labor unions and state functionaries are still demanding that others pay for the early retirements, lifetime benefits and state pensions to which they feel entitled.

In America, however, the tea partiers are demanding less government growth, less public debt, and less bailouts.

The Pelosi Response

“It’s not really a grass-roots movement. It’s Astroturf by some of the wealthiest people in America to keep the focus on tax cuts for the rich”.

The Reid Response

Seemingly having nothing original to say, Mr. Reid held up a square of synthetic turf at a press conference last August, and declared that the town hall demonstrations were, “about as phony as this grass”.

The Charge Of The Liberal Brigade

The answer to the question, “What will happen as our increasing number of state employees confront a shrinking private-sector tax base?”.

Just look at the PIIGS.

Half a league, half a league,

Half a league onward,

All in the valley of Death

Rode the six hundred.

`Forward, the Light Brigade!
Charge for the guns!’ he said:

Into the valley of Death

Rode the six hundred.

From, The Charge of the Light Brigade by Alfred Lord Tennyson

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