You must not have too much free lunch because, someONE has to pay for those free lunches.
Here's from the Pittsburgh Tribune-Review:
Greece's problems with money shouldn't seem so foreign.
Anyone with a checking account knows you can't buy more than you spend -- at least not indefinitely, anyway.
"People like to pretend budget deficits and entitlement programs are so complicated and hard to understand," said Craig Thomas, senior economist at PNC Financial Services Group in Pittsburgh. "They really aren't. You have income coming in and spending going out. ...
"Greece shows it's not more complicated than this."
Despite promises of a $146.5 billion bailout from the International Monetary Fund and other countries that use the euro, Greece's deep debts threaten to take down the European Union -- and perhaps jump across the Atlantic.
Rioting by Greeks upset over proposed cuts in wages and public benefits left three people dead last week.
Indirectly, the European crisis caused jitters on Wall Street, adding to a dramatic decline in the Dow Jones Industrial Average on Thursday and instability through week's end. The Dow on Friday ended down 139.89, to close the week at 10,380.43.
The message about Greece's carefree spending translates around the world, economists said.
If countries want to provide great social services, that's fine -- but they need to pay for them.
"What is happening in Greece is expected," said Dan Donchev, a private economic analyst in Tetovo, Macedonia, which shares a border with Greece. "Obviously, the time has come when our southern neighbor should pay for its free lunch."
