"The history of the 20th century is a painful lesson on what happens when collective choices replace individual choices. Even leaving aside the chilling history of totalitarianism in the 20th century, the history of economic central planning shows it to have been such a widely recognized disaster that even communist and socialist governments were abandoning it as the century ended.
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"We cannot simply spend as we please and defer the consequences to the next budget, the next administration, or the next generation,’’ Obama told a White House summit on fiscal responsibility . “You don’t spend what you don’t have.’"
"Sure, the pipeline would have produced thousands of truly shovel-ready jobs. Sure, delay could forfeit to China a supremely important strategic asset — a nearby, highly reliable source of energy. But approval was calculated to be a political loss for the president. Easy choice.
It’s hard to think of a more clear-cut case of putting politics over nation. This from a president whose central campaign theme is that Republicans put party over nation, sacrificing country to crass political ends."
Krugman cites Sweden as an example of a social welfare success in Europe, but fails to mention two important points. Firstly, in recent years, Sweden has begun rolling back the welfare system and government expenditure while adopting important free market reforms. Secondly, Sweden decided to stay out of the eurozone, another key reason why it has so far kept out of the financial mess engulfing southern Europe. As Johnny Munkhammar, a Swedish member of parliament noted in a piece for The Wall Street Journal in January, Sweden owes its success not to welfare statism but to reforms that have increased economic freedom, including greater competitiveness in the provision of health care and other public services:
The reality that Krugman refuses to accept is that Europe offers a glimpse of America’s future if it continues down the path of European-style big government. The root of Europe’s financial crisis lies in decades of over-spending and over-borrowing, largely to pay for overgrown and bloated welfare systems, vast public sectors, and incredibly generous pension plans. Europe has a huge entitlements disaster heading its way, with graying electorates unable to sustain the status quo. Added to this has been the disastrous euro experiment, which has created a one-size fits all approach for 17 EU countries, with varying levels of economic advancement. It has been a huge leap into the dark, without a shred of democratic accountability.
"As with the late, unlamented Sen. Joe McCarthy—of whom Coulter remains an unapologetic cheerleader—she corrupts us merely by our association with her species and coarsens our culture by her very presence in it. Shame on Maureen Dowd for enabling her to do so with the imprimatur of The New York Times."
Where does it all end? In the real world, when you push spending, deficits and debt to record levels — 11, 11, 11, right across the board — the national fuses blow and the music of prosperity ends. When it does, you're left with a country in fiscal crisis that looks a lot like Greece does today. But, as Nigel might say, “That's just nitpicking, isn't it?”
