Greece, the birthplace of democracy, has out-of-control and rising European Economic Community debt. The U.S. Congress, in spite of the sequester, is unable to address an ingrained annual federal deficit culture and corresponding growth in our national debt. In Illinois, Demo-crats cannot agree on how to fix an unfunded state pension obligation that is ravaging our state's credit rating and portending Draconian steps ahead.
Political bidding is the ever- increasing social welfare promises of candidates. It is the bane of democracy and will result, in the view of some, in democracy's demise. Both Democrats and Republicans practice political bidding, though nationally Democrats are ascendant in reaping its rewards.
Ronald Reagan began the practice of continual annual deficits. Bill Clinton briefly staunched the bleeding, but George W. Bush opened the flood gates of continuous deficit spending and Barack Obama has outdone W.
Our Illinois debt a never-ending continuum of political promises that, due to irresponsible standards and practices, don't require that sufficient funds be set aside today for payment tomorrow.
History is irrefutable in its judgment that these fortuitous circumstances will not last. But while they do, politicians will continue to promise each of us ever-expanding social welfare bounties in search of success at the voting booth.
Sadly, a largely economically illiterate voting public will never grasp these immutable truths short of Armageddon. You don't think so? Tell us why.