It would appear that Slovakia, a tiny country in Europe holds the key to either economic disaster or economic enslavement. The entire country of Slovakia has a population of a little over four million people and a workforce of maybe two million people. These two million people are now being asked to shoulder the debt burden of $5 billion as their share of the European recovery program. That does not seem fair to me.
This tiny country has a better GDP growth rate than the United States. It also has a population that is 99% literate. And I heard this morning, their tax rate is 19% for individuals and 19% for corporations, and the country is thriving in relative terms. Maybe we can all learn something from how this country is run.
The vote in Slovakia is an example of what lies ahead for us in the US. Many states have debt burdens that they will soon be unable to pay. This debt will then be shared by states who did not overspend. You think we have issues now....just wait.
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