The big fiscal debate in the United States is whether the United States should become a European-style welfare state, which is something that automatically will happen over the next few decades in the absence of genuine entitlement reform.
Some people even want to accelerate this process.
My response is usually to ask why the United States should copy Europe when there is a wealth of evidence that living standards are substantially lower on that side of the Atlantic Ocean.
Not only are living standards lower, but there is also lots of evidence that Europe is suffering from anemic growth.
Which means the gap in living standards is getting wider every year.
At the risk of understatement, copying European fiscal policy seems like a big mistake.
If you’re still not convinced, here’s some more evidence. In his column for the U.K.-based Financial Times, Gideon Rachman compares the…
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Utopia, you are standing in it! 
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