A Comparison Between Greece And The US Yields Similarities That Impact Us As Well As Our Clients

Monday, June 18, 2012 09:04
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A Comparison Between Greece And The US Yields Similarities That Impact Us As Well As Our Clients

Tags: client communications | economy | new tax rules | U.S. economy

A recent Gallup poll found that the number one concern on voters’ minds is the economy. As the election year progresses, we can draw some comparisons from our upcoming election to the one held this weekend in Greece. Looking at each country’s ills from a different perspective might shed some light on pragmatic solution options.

 
One could say that there really is no comparison between the Greek situation and ours. But looking at the situation from a more human rather than an institutional or purely economic perspective shows a very similar story.

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To start, both the US and Greece have populations that are struggling for income. The job market in the US has not rebounded as hoped for from—and possibly indicated by—the seemingly steady increase in job creation at the beginning of 2012.
 
The unemployment rate in Greece for first quarter 2012 was 22.6%. But its average rate since 1998 has been 11.3%. The US unemployment rate just rose slightly in its most recent report, back to a rate of 8.2%.
 
Greek citizens are reeling from government cuts in services and a lack of leadership to resolve its problems. Americans are also grappling to make ends meet as improvement in the jobs sector languishes. Then there is the looming fiscal cliff if Congress does not act by the end of the year.
 
The Greek political and economic scene is not much improved from its recent election. The battle to form some type of coalition to solidify leadership is still a formidable hurdle. In the US, partisan efforts seem diametrically opposed with little hope for compromise when aspects of both positions would provide a solution that truly alleviates human need during a pain-filled economic environment that stubbornly persists.
 
Not unlike the Greek situation, after all, is it. Let’s hope that through the remainder of this election year, that real solutions based on bi-partisan cooperation will emerge. If that causes you to chuckle, then we have to look to ourselves to actively make our voices heard and to exercise our responsibilities as citizens to effect change. As Andy Gluck stated in a previous post here on A4A, you can do a lot to help your clients during this crisis.
 
You can contact those who represent you in Congress. You can vote. And you can encourage your neighbors and friends to vote. If each of us becomes active and let's our respective opinions be heard by those we've empowered to act for us, the human factor might become part of the impetus that gets us out of our political and economic stalemate.

 

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