- Possibly the last person who could have stopped America being drawn into bloated European socialism was George Bush, and he had not the slightest desire to do so.
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Americans dislike the term “welfare state” and substitute the bland word “entitlements.” The vocabulary doesn’t alter the reality. ...The welfare state’s death spiral is this:
Almost anything governments might do with their budgets threatens to make matters worse by slowing the economy or triggering a recession. By allowing deficits to balloon, they risk a financial crisis as investors one day...doubt governments’ ability to service their debts and, as with Greece, refuse to lend except at exorbitant rates. Cutting welfare benefits or
raising taxes all would, at least temporarily, weaken the economy. Perversely, that would make paying the remaining benefits harder."...Samuelson via Big Journalism which points out we're "entitled" to do something about this.
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