Greece; ever since I moved to America and for years thereafter, I have been trying to find news, any news about Greece in the local and national US newspapers. But, after years of failing to do so, I came to the realization that Greece, is really too small – it does not matter. This of course was to change with 2010 rolling in…
It has been now about two months that, to my shocking surprise, we have been bombarded with news about Greece. Every single day, there is one or more stories in the front page of the Wall Street Journal and other newspapers, all analyzing the importance of Greece in the European Union in particular, and the world’s financial health in general. I have spent the last few days in Denmark and Germany and a day does not go by without seeing Greece in the front, middle and back pages of the Financial Times and other newspapers written in languages beyond the four I can personally speak. So the question is, what makes little-tiny Greece, all of a sudden the center of the universe again? Don’t get me wrong, I am thrilled that Greece is in the news daily, but the question is why does Greece matter?
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The debate about Social Security’s depleting fund has been going on for years. Recently, analysts have begun discussing possible solutions to ensure the availability of Social Security for future generations. The Administration’s 2005 trustees report predicted massive annual deficits starting by 2017. This means that by 2017, this Administration will be putting out more money than it’s collecting through taxes. What’s even more troubling is that there’s no definite plan of action to permanently fix this huge problem.
One idea was to increase the payroll taxes by 2% and over a 75 year period, the deficit problem was expected to be resolved. However, the future deficits are growing so large that this modest tax increase will still leave a large shortfall. Social Security’s impending crisis cannot be resolved with this small tax increase.
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Something important happened on November 29, 2009 in the country of Honduras. You will not see much about it on the news in the U.S. in the main stream news media. The Obama administration likely wants to keep it as quiet as possible, therefore the mainstream media will keep it quiet for them.
There was a presidential election in Honduras, to elect a new president to replace the interim president, who was serving after the Honduran supreme court had to oust the former president to save the country from becoming a dictatorship.
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