The New York Times bids a fond farewell to a dear old friend: European socialism

by editor on May 26, 2010


Stalin believed in cradle-to-grave care, but put added emphasis on the grave part of the equation.

European socialism is dead. Even the New York Times can no longer deny it. Of course, that doesn’t stop the Times from promoting the same failed system here in the United States, but that’s another story.

Across Western Europe, the “lifestyle superpower,” the assumptions and gains of a lifetime are suddenly in doubt. The deficit crisis that threatens the euro has also undermined the sustainability of the European standard of social welfare, built by left-leaning governments since the end of World War II.

Europeans have boasted about their social model, with its generous vacations and early retirements, its national health care systems and extensive welfare benefits, contrasting it with the comparative harshness of American capitalism.

Europeans have benefited from low military spending, protected by NATO and the American nuclear umbrella. They have also translated higher taxes into a cradle-to-grave safety net. “The Europe that protects” is a slogan of the European Union.

But all over Europe governments with big budgets, falling tax revenues and aging populations are experiencing rising deficits, with more bad news ahead.

With low growth, low birthrates and longer life expectancies, Europe can no longer afford its comfortable lifestyle, at least not without a period of austerity and significant changes. The countries are trying to reassure investors by cutting salaries, raising legal retirement ages, increasing work hours and reducing health benefits and pensions.

The most important sentence in that excerpt are, “Europeans have benefited from low military spending, protected by NATO and the American nuclear umbrella.”

Yes, your tax dollars enabled the Europeans to believe the world was a real life Candyland and convinced them they could spend foolishly on unsustainable social folderol.

But the folderol has come home to roost.

Source: New York Times

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Pittsburgh Z
Pittsburgh Z

THAT lifestyle was easy when the United States rebuilt the continent after the war. It was easy when the U.S. paid for their defense.

NOW, that they are on their own it’s easy to figure that Socialism FAILS!