In response to:

Portugal May Become the First of Europe’s Bankrupt Welfare States to Stumble upon a Genuine Recovery Formula: Less Spending AND Lower Tax Rates

Donald103 Wrote: Dec 20, 2012 12:36 PM
A third party of conservatives would just make it more unlikely to unseat the democrats. The real trouble is with the electorate-too many poorly informed, too many dependent on government. It is and will be an uphill battle. One thing seems sure-trying to out spend the leftist, liberal Democratsl

There aren’t many fiscal policy role models in Europe.

Switzerland surely is at the top of the list. The burden of government spending is modest by European standards, in part because of a very good spending cap that prevents politicians from overspending when revenues are buoyant. Tax rates also are reasonable. The central government’s tax system is...