Americans aren't alone in realizing the welfare state is unsustainable even with confiscatory levels of taxation. The London Telegraph's Toby Young puts the debt ceiling deal in a European context: "To focus on the Tea Party is to ignore the tectonic political shift that's taken place, not just in America but across Europe. The majority of citizens in nearly all the world's most developed countries simply aren't prepared to tolerate the degree of borrowing required to sustain generous welfare programs any longer." The key question in the days ahead is what should replace the liberal welfare state as America recovers her financial sanity.
Read more at the Washington Examiner: http://washingtonexaminer.com/opinion/2011/08/america-comes-grips-liberal-welfare-state#ixzz1U4MGstE2
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