A nation's finances should be run like a household finances. We all need to live within our means. Greece, Italy, Portugal, Spain, France, UK, US and most countries around the world have huge national debts and growing deficits that may never return to Budget surplus and imports far exceed exports. China and India and other Asian-Pacific nations have trade surpluses, balanced government budgets and live within their means.
Why should we tax Peter to give to Paul? There is no such thing as a free lunch. Nations and its people that are in huge debt will need to endure short term pain for the chance of prosperity and economic growth in the long-term and hope for a brighter future.
The cuts to public service, wage cuts and tax increases will hurt in the short to medium term but the Greek patient needs to take its medicine.
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