Re:Greeks Reject Bailout Terms
by haberman on Sunday July 05, 2015 @05:34PM
(#9835111)
> You do realize that plenty of US states carry a "deficit" right? Many states receive more money from the Federal budget than they pay back in.
That's not a "deficit." If that was a deficit, than every person in the US who pays less than $11,000 in tax would be running a "deficit." That's just the way governments work: the amount you pay in tax and the amount of services you get back from the government aren't always the same. But we do all have representation in the authority that chooses how to spend the pot of money.
Greece is different because they have sovereignty over their budget. Greece's taxes aren't collected by the ECB (with enforcement power) and there is no European body deciding how the taxes will be spent.
That's not a "deficit." If that was a deficit, than every person in the US who pays less than $11,000 in tax would be running a "deficit." That's just the way governments work: the amount you pay in tax and the amount of services you get back from the government aren't always the same. But we do all have representation in the authority that chooses how to spend the pot of money.
Greece is different because they have sovereignty over their budget. Greece's taxes aren't collected by the ECB (with enforcement power) and there is no European body deciding how the taxes will be spent.