Defending the Judeo-Christian Ethic, Limited Government, & the American Constitution
Tuesday December 23rd 2014

Bailout of Greece is Important to America — T.F. Stern

By T.F. Stern,

For those living in a dark closet, Greece needed a huge bailout from the International Monetary Fund (IMF) and European Union (EU) to avoid declaring bankruptcy. You could say Greece is a microcosm of problems here in America; but I’m getting ahead of myself.

Greece took the path to socialism and has reaped the harvest of such a poor choice. About 30% of their work force is in the pubic sector, government jobs rather than in the private sector, and they have found the private sector can no longer satisfy the unsustainable budget associated with those poor choices. In a nutshell, Greece has been spending more than they take in; their budget is unsustainable. This has been going on for so long they are unable to pay those from whom they borrowed. Begging for and receiving funds from the IMF and EU means they no longer are self governing; agreeing to be “wards” of a world governing body since they can no longer pay their debts.

The United States is supplying 17% of the IMF money handed over to Greece; that’s US taxpayer dollars being spent to keep Greece afloat and money we have to borrow from places like China because we don’t have the money either. I want you to think about that for a moment; we’re borrowing money and going deeper in debt to help another country which is even deeper in debt. What’s wrong with this picture?

Instead of trimming spending here in the United States we are expanding the role of government and entitlements at a horrifying pace; the same as expanding debt and tilting or GDP towards bankruptcy just as Greece already has accomplished. Why would we want to destroy our nation and have to go crawling to the IMF or the Chinese government later on down the road, hand over governance powers to anyone other than its rightful place, “deriving their just powers from the consent of the governed”?

Who or what is the IMF and what do they do? As Yogi Berra would have said, “I can tell you in just one word, ‘wealth redistribution’”.

“The International Monetary Fund (IMF) is an organization of 186 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.”

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“The IMF provides loans to countries that have trouble meeting their international payments and cannot otherwise find sufficient financing on affordable terms. This financial assistance is designed to help countries restore macroeconomic stability by rebuilding their international reserves, stabilizing their currencies, and paying for imports—all necessary conditions for re-launching growth. The IMF also provides concessional loans to low-income countries to help them develop their economies and reduce poverty.”

If you wanted to see how a ‘New World Order’ was/is to come about the template can be found in the IMF. Once you owe folks money you are at their mercy and direction until such time as you pay them back in full. In the case of nations owing money to other nations or the IMF, it doesn’t matter what constitutional limits are placed on government because that government is now controlled externally. Can we as Americans continue to permit Congress to spend money we don’t have and becomes as Greece, wards incapable of self governance?

The answer comes back a sound, “No!” We have watched for years how the entitlement mentality has turned into a cancer, a cancer which is swallowing the private sector’s ability to pay and yet we continue to permit Congress’ flagrant abuses to fiscal responsibility as if by turning our heads the problem will go away.

Ezra Taft Benson reminded us of The Proper Role of Government , quoting from the Alabama Constitution:

“That the sole object and only legitimate end of government is to protect the citizen in the enjoyment of life, liberty, and property, and when the government assumes other functions it is usurpation and oppression.” (Art. 1, Sec. 35)

Government; local, state or federal, has never had authority to plunder taxpayers in order to fund entitlements. Such plunder is theft, whether carried out by a robber wielding a pistol in front of his victim in order to obtain his wallet or by the tax collector it is the same. We have traveled down the road to socialism, much as Greece has, and found the private sector can no longer afford to pay the price of such an entitlement mentality populace. We had better face the music now or be prepared for the terrible price we will surely pay eventually; loss of self government and all we have fought for in the name of life, liberty and the pursuit of happiness.

The Moral Lib­eral asso­ciate edi­tor, T.F. Stern, is a retired City of Hous­ton police offi­cer, self-employed lock­smith, and gifted polit­i­cal and social com­men­ta­tor. His pop­u­lar and insight­ful blog, T.F. Sterns Rant­i­ngs, has been up and at it since Jan­u­ary of 2005.