I’ve been warning that the United States should not copy Europe’s fiscal policy, largely because living standards are significantly lower in nations with large welfare states.
That’s true if you look at average levels of consumption in different nations, but the most compelling data 
is the fact that lower-income people in the United States generally enjoy living standards that are equal to or even higher than those for middle-class people in most European countries.
A bigger burden of government is not just a theoretical concern. President Biden has already pushed through a $1.9 trillion spending bill that includes some temporary provisions – such as per-child handouts – that, if made permanent, could add several trillion dollars to the burden of government spending.
And the White House has signaled support for $3 trillion of additional spending for items such as infrastructure, green energy, and other boondoggles.
This doesn’t even count the…
View original post 803 more words
Utopia, you are standing in it! 
Recent Comments