Payback Time for Socialism

http://www.nytimes.com/2010/05/23/world/europe/23europe.html?hp

Payback Time
Crisis Imperils Liberal Benefits Long Expected by Europeans

By STEVEN ERLANGER

Published: May 22, 2010


PARIS — Across Western Europe, the “lifestyle superpower,” the assumptions and gains of a lifetime are suddenly in doubt. The deficit crisis that threatens the euro has also undermined the sustainability of the European standard of social welfare, built by left-leaning governments since the end of World War II.

Europeans have boasted about their social model, with its generous vacations and early retirements, its national health care systems and extensive welfare benefits, contrasting it with the comparative harshness of American capitalism.

Europeans have benefited from low military spending, protected by NATO and the American nuclear umbrella. They have also translated higher taxes into a cradle-to-grave safety net.
“The Europe that protects” is a slogan of the European Union.
But all over Europe governments with big budgets, falling tax revenues and aging populations are experiencing rising deficits, with more bad news ahead.

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"Good Conservatives always pay their bills. And on time. Not like the Socialists who run up other people's bills."

M.Thatcher.

Derek says:

Hi Prop,
Thatcher is not as appreciated in the UK as she once was. She caused a dreadful legacy and spoke too much about freedom.

Some think she manifested considerable hubris towards the end of her political career.


Prop says:

Yeah....gotta watch that "freedom" talk...could be contagious!

I didnt know beans about her until I came across her quotes about Socialism. I'm 100% ignorant about how British Politics actually works, so I was suprised to see it. I do like watching that 'House of Lords', or 'House of Commons', whichever it is, where all the British dudes are yelling at each other and being really rude in these---oh so aristicratic accents. Thats just good stuff. .

Hey D....Sorry about this...I thought I was posting when apparently I was editing yours! It wasnt intentional.