Maybe Obama should read this before we go broke

[rojawe]

Fiscal crises threaten Europe's generous benefits
         
By MICHAEL WEISSENSTEIN, Associated Press Writer Michael Weissenstein, Associated Press Writer – Sun May 23, 4:55 pm ET
LONDON – Six weeks of vacation a year. Retirement at 60. Thousands of euros for having a baby. A good university education for less than the cost of a laptop.

The system known as the European welfare state was built after World War II as the keystone of a shared prosperity meant to prevent future conflict. Generous lifelong benefits have since become a defining feature of modern Europe.

Now the welfare state — cherished by many Europeans as an alternative to what they see as dog-eat-dog American capitalism — is coming under its most serious threat in decades: Europe's sovereign debt crisis.

Deep budget cuts are under way across Europe. Although the first round is focused mostly on government payrolls — the least politically explosive target — welfare benefits are looking increasingly vulnerable.

"The current welfare state is unaffordable," said Uri Dadush, director of the Carnegie Endowment's International Economics Program. "The crisis has made the day of reckoning closer by several years in virtually all the industrial countries."

Germany will decide next month just how to cut at least 3 billion euros ($3.75 billion) from the budget. The government is suggesting for the first time that it could make fresh cuts to unemployment benefits that include giving Germans under 50 about 60 percent of their last salary before taxes for up to a year. That benefit itself emerged after cuts to an even more generous package about five years ago.

"We have to adjust our social security systems in a way that they motivate people to accept regular work and do not give counterproductive incentives," German Finance Minister Wolfgang Schaeuble told news weekly Frankfurter Allgemeine Sonntagszeitung on Saturday.

The uncertainty over the future of the welfare state is undermining the continent's self-image at a time when other key elements of post-war European identity are fraying.

Large-scale immigration from outside Europe is challenging the continent's assumptions about its dedication to tolerance and liberty as countries move to control individual clothing — the Islamic veil — in the name of freedom and equality.

[Big Frank]

Budget deficits, welfare, and immigrants. Sounds familiar.

[philw]

Budget deficits, welfare, and immigrants. Sounds familiar.

Yep..


HERE!!!!!!!

[Rastus]

Good thoughts, but I don't think we can consider the actions and imprint the values of how we might consider "your next door neighbor" on BHO and his ilk.

I think first you must consider they put themselves on top.  Never mind the reason, ideology, greed, whatever.  They are on top and have justified staying there.

They get on top by popular opinion (people voting without using their heads).

They pander to get the vote.  To be successful, they buy off people with government largess.

In light of the above, the liberal leadership doesn't care whether the nation goes down in flames or not.  So long as they believe they will remain of high status and virtually untouched Rome can be burning and they will not care. 

[billt]

I'm starting to believe he wants to crash the economy.  Bill T.

[Sponsor]

[Rastus]

I'm starting to believe he wants to crash the economy.  Bill T.

That is possible, it may well consolidate radical power like lead to the ascent of Hitler.  I'm still leaning towards the self-power and affluency thing with everyone else being an end to a means and no real consideration for the welfare of the masses.

[Pathfinder]

I'm starting to believe he wants to crash the economy.  Bill T.

Finally, the message gets through? 

Rastus - a military demagogue nee tyrant is a very reasonable projection of what is to come in this country. I would guess it would take 15-20 years from now, but maybe sooner. Way too many variables at this point - as well as hidden actions past, present and future - to really determine the probability.

It took lots less time for post-WWI Germany, but they already had a seriously screwed up economy during the War, so the post-war crash of the 20's was to be expected, and it accelerated the rise of a "problem solver" like Hitler.

[ericire12]

I'm sure Obama would just put forth the argument that Europe just never had the right person running things.

[Woody]

Since all our money is based on thin air, they could just forgive everything in one day. All countries just cancel each others debts and start afresh, but no they need credit bound slaves forever.