Kevin Fischer is a veteran broadcaster, the recipient of over 150 major journalism awards from the Milwaukee Press Club, the Wisconsin Associated Press, the Northwest Broadcast News Association, the Wisconsin Bar Association, and others. He has been seen and heard on Milwaukee TV and radio stations for over three decades. A longtime aide to state Senate Republicans in the Wisconsin Legislature, Kevin can be seen offering his views on the news on the public affairs program, "InterCHANGE," on Milwaukee Public Television Channel 10, and heard filling in on Newstalk 1130 WISN. He lives with his wife, Jennifer, and their lovely baby daughter, Kyla Audrey, in Franklin.
By Guest Blogger Donna Cole
Back in the 1990's, when the European Union was being formed, I remember something my mother told me that I have never forgot. She said,"They are trying to build the
The basic problem with the EU is that some members, nation states, have been responsible with their fiscal budgets and debts, and others have not. The states that are broke threaten to drag down the responsible members with them.
The Germans, and the European Central Bank, have demanded the Greeks take on very tough austerity measures in order to be floated loans to cover their debts. That sounds fair, their overspending got them in the mess, so they must be forced to live within their means.
Many liberals are demanding that the Germans and the ECB should basically just buy up all of the Greek debt, eat it, and wipe the slate clean for
The Germans are resisting this and rightly so. Why reward bad behavior ? The next liberal argument is that the Germans got rich selling it's exports to
This argument is right out of 3rd grade, which is where Keynesian economic theory is taught. This is no different than if I bought a bunch of stuff at Walmart on my Visa card, then when the bill came in, I went to Walmart and said they had some obligation to pay my credit card off.
Like any country,
I think what will ultimately happen is that
However, these problems go far beyond just
One insurance policy the Germans have over
Which brings us to a growing problem in the
The worst of these states is also the most populous with very high taxes, not surprisingly ran into insolvency by liberals,
In much the way Germans think, I ask why should the responsible states bail out
The answer is we can't.
As much as many of us would like to, we can't kick
So, how can we punish these irresponsible liberals and the bankers who lent them the money ? We first tell the banks, you took the risk, you knew the amount of debt they were carrying, you still lent them the money ( bought the bonds), so you reap the rewards. There will be rewards, because the Californians do not get off the hook either.
The state goes into receivership. The state government is dissolved, replaced with a federal overseer, and only the most essential services remain. The banks get what is left, all the state's assets. These would be mostly property, in the form of state parks, universities, etc. Probably several billion dollars worth of assets. What they do with them would be the bank's own business, and none of any Californians.
This would not be like a mortgage default, where the bank does not want the house, they want the money. The banks would take ownership of
I know this is radical. I know many on both the right and left will howl for various reasons. I also know this will never happen, neither party has the stones to do something even approaching this. I would argue that without some real tough love like this, we will never stop liberal irresponsibility. These people must be taught a lesson. I give the Germans, and the ECB, credit for ignoring European liberal, and the NY Times, calls they just bail out and eat
Surprisingly for a socialist nation, the Germans understand how important it is to teach an irresponsible child a lesson. A lesson liberals in this country must be taught, if not, we are just going to keep pouring taxpayer dollars into our own