“The spending of European governments has ranged between 40% and 60% of GDP for many years.”
http://www.economicpolicyjournal.com/2012/05/disunion-of-failed-states.html
I had no idea it was this bad until I read this yesterday. The European nirvana isn’t sustainable.
Sarkozy got fired because he raised the French retirement age from 60 to 62.
Message received, loud and clear. What European leader is going to stick his neck on the line over austerity after that?
And the U.S. spending is sustainable?
Obama has piled on 5 trillion in debt on us.