Wasn't this the plan all along?

The same people who called the shots in Europe are calling them here. That's what the big meetings of the global elite are for. Are you making the connections yet? I don't mean to beat you over the head with this stuff but it is pretty obvious to me. If it walks like a duck and it quacks like a duck, it's a duck.


U.S. Embraces Model That's Failed Europe

The newspaper headlines say it all. On the one hand, "Crisis Imperils Liberal Benefits Long Expected by Europeans," while in this country: "Private Pay Plummets, Government Handouts Soar."

The modern European welfare state has proven unsustainable. From Greece to Britain, from France to Portugal, European countries are slashing social welfare benefits, raising the retirement age and dismantling government bureaucracies. Yet, even as Europe is learning that you can't forever rob Peter in order to pay Paul, the U.S. is racing to transform itself into a copy of the failing European model.

Greece has been the face of the crisis thus far, with a national debt that equals 108% of GDP, and talk of service cuts sparking spectacular riots in Athens. Spain had its credit rating cut two weeks ago. But Hungary might well be the next debt-explosion poster child: Last Friday the prime minister's spokesman began openly using the word "default," sending markets into a further tizzy.

But how much better off are we? Our national debt just topped $13 trillion. The Congressional Budget Office projects it will equal 90% of our GDP by 2020. The U.S. government spent $83 billion more than it took in last month, and that figure is expected to exceed $1.56 trillion for the year.

Faced with this rising tide of red ink, our Congress blithely enacted a new multitrillion-dollar health care entitlement. It's now engaged in a debate over legislation repealing a scheduled cut in Medicare reimbursements and further extending unemployment benefits.

Of course, if one points out that we are driving the country toward bankruptcy, the traditional response in Washington is that we must have the "courage" to raise taxes. The Obama administration is preparing to allow Bush era tax cuts to expire, leading to a big jump in income and capital gains taxes.

Link:
http://www.investors.com/NewsAndAnalysis/Article/536668/201006081815/US-Embraces-Model-Thats-Failed-Europe.aspx