Europe: The Vicious Circle of Subsidies
While developing countries move towards the welfare state, European countries need to redesign their welfare model. European states have become so big they are now unwieldy. Basic safety nets have been stretched to unexpected sizes and because the state supports everything that “people deserve”, it’s getting harder and harder to […]
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Fiscal Consolidation: A Technical Term for Partisan Quarrels
Congressman Gregory Meeks discusses budget deficits and the need for fiscal consolidation in the United States. But politicians do not appear to be ready to make the tough choices to develop a package of tax cuts and spending cuts that will correct America’s fiscal mess.