Wednesday, May 12, 2010

Quebec Going Down the Road of Greece

With Greece's economic problems having their credit status downgraded to junkThe EU had to bail them out with to a tune of 750 billion Euro and the German people are  fuming. I don't blame them.
The problem is Greece has had a socialist society with all kinds of entitlement programs for so many years.
Heck they can retire at 53 and claim their pension.  Here we have to work till 65.  Greeks don't want the government  to make cuts their entitlements so they have resorted to rioting in the streets. Three people so far have died as a result.

Quebec also has  very generous entitlement programs for years, like $7 a day daycare, cheap university tuition, etc. Even though they receive $8.6 billion in equalization, they still have a debt of nearly $170 billion.
 Lately, Quebecers such as Conservative MP Maxime Bernier have criticized Quebec's overreliance on equalization, saying Quebecers are "spoiled children."