Stocks Fall on Greece Debt Crisis

The Dow tumbled 225 points today from concerns Greece debt crisis was too late and not enough to fix the nations trouble economy. Fear engulfed the market that this has the potential to spread across Europe and to the United States upsetting the fragile U.S. economy.

The United States should be worried as like Greece, America has accumulated too much debt and continues its reckless spending with no end in sight.

All across the nation the reckless spending of the past is finally catching up and politicians from both parties have no idea how to solve it. Too often we only here partisan spin with regard to controlling spending, Democrats and Republicans blame each other but both are responsible for the fiscal mess the nation finds itself.

The whole debate is misguided on financial reform. Congress blames Wall Street for the economic crisis which there is merit but what about holding Congress responsible as well! Follow the money on the millions given to Congress from the financial sector, Freddie Mac and Fannie Mae the mortgage lenders; to include almost a million dollars given to then Senator Obama.

The financial crisis should have been awake up call for the U.S. but sadly nothing has been done just more spending. One only has to look at the fiscal policy of many of the states and you see why the nation’s economic future is in jeopardy.

Too often rewarding special interests groups was the order of the day, instead of sound economic policy. Public employee’s benefited at the expense of ordinary Americans. One only has to look how pensions and benefits were doled out without any thought how this was to be sustained over time.

California is facing a $500 billion unfunded pension system that has to be paid but what individuals don’t know that it will come from the taxpayers to make up the shortfall. Follow the government corruption scandals in New Jersey, New York, Illinois and the major metropolitan cities of the country such as Chicago and Detroit. In each instant the abuse of the public funds is done right criminal.

Government has been conduct “Enron” style accounting and virtually had ponzi style economic policy that only the financial meltdown exposed. It’s time we hold politicians accountable for their actions and only then will we have our country back.

It takes us to be informed and not influenced by snake oil salesman.