In response to:

Are We Becoming European?

Frank130 Wrote: Jan 04, 2013 9:27 AM
"Are We Becoming European?" -No, we are basically already there. The USA has collapsed & is in free-fall... it just hasn't hit bottom yet. When we will hit, I don't know because I thought by now we should have already hit bottom somewhere in Obama's first 4 years. But just wait, this spending & deficit madness can't continue on forever. Eventually economic reality will set in very. very painfully. The longer it takes to set in, the more pain in the end.
Illbay Wrote: Jan 04, 2013 11:15 AM
We will hit...and it will be "Bush's fault," just as it was "Hoover's fault" during the 15 years of the rapacious FDR administration.

Problem is, we don't have the cushion of a basically sound economy to protect us this time.

Following the fiscal cliff melodrama, Senator Richard Shelby appeared on television to declare that we are becoming European. "We're always wanting to spend and promise and spend and borrow but not cut. We've got to get real about this. We're headed down the road that Europe's already on."

There's no "heading" about it. We're there. Prof. John J. DiIulio, writing in "National Affairs", outlined the true size of American government. When state and local government expenditures are added to federal outlays, government spending as a share of GDP easily competes with European nations. In fact, per-capita government spending in the...