Michael Hudson, author of a book titled Super Imperialism,  looks to the privatization of Greece as what we should expect in the United States.   In the meantime, the media keep examining the issue from the perspective of speculators rather than ordinary citizens, who are about to be crushed with debt that they did not cause.

There is a Republican War on Christmas. It is now being acted out as part of the debt ceiling negotiations in Washington, D.C. and has been going on for over a generation all over America. This is an expanded version of a previous post I wrote. The Republican War on Christmas started in 1980 with the election of Ronald Reagan. Mr. Reagan ran against a $1 trillion deficit in 1980. In 1980, we heard how many times a line of money of $1 trillion would go to and from the Moon. Mr. Reagan told us that if we cut taxes for corporations and the very rich and increased defense spending by $1.2 trillion, we could balance the budget and insure the future security of all Americans. Mr. Reagan didn’t really mean all Americans because the Republican definition of an “American” doesn’t include union members, the Middle Class, seniors, the disabled, pregnant women (if unmarried), minorities, students, the young, infants, the poor and the unborn (unless threatened by abortion but, thereafter left to thrive or die as the “free market” decides), widows or orphans. George H. W. Bush called Reagan’s economic plan “voodoo economics” and predicted massive deficits. Mr. Bush was right. But, that was Reagan and the Republicans’ plan. If America ran up massive national debt, future government spending would naturally have to be diminished in areas Republicans believed were “socialism” or “communism” like Medicare and Social Security. Please let’s not forget both Medicare and Social Security were and are still attacked by Republicans and Reagan and GW Bush as “socialism,” “socialistic,” communist” and other such tommyrot. See here, here and here.