Eurocracy Fiddles as the Economy Falters - WSJ.com

AN OXYMORON: Eurocracy Fiddles as the Economy Falters - WSJ.com: "

Stimulating growth through higher taxes and union work rules is an oxymoron. Thus, Obama is blind to the idea that UAW policies create growth and sustainable economic prosperity.

All of these socialist policies are like the family with credit cards. They want a higher and higher standard of living every year and to do so, they keep adding to their credit card debt.

Everyone knows you reach a tipping point. At some point the interest and minimal fixed expenses exceed the ability of the cardholder (read, in this case, government) to sustain the debt.

The papers are full of how public union pension plans are having to face this same problem with too rich benefits and maxed out taxes.

One either supports growth with free labor and low taxes or it seems the opposite (e.g. US, France, Greece, etc.) - and, as with irrigated crops or rain starved crops, the results are as expected - either a bountiful harvest or a sparse one.

Obama thinks a failure to irrigate the US economy shouldn't change the results - well, it sure seems from this article that much of Europe has the same problem.

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