You call this growth? As for Europe, austerity isn’t their problem. They were a disaster waiting to happen, and no amount of “stimulus” is going to get them out of their mess. They have an aging population, an inflexible labor market, a slow birth rate, and expensive entitlements. And Obama wants us to be more like them.
Actually, Germany (who is the main promoter of austerity) is the only thing holding Europe together now. Sweden and Latvia are also growing without resorting to “stimulus.” What those countries (particularly Germany and Sweden) quite wisely did about 10 years ago was liberalize their labor sector (i.e. make it easier to fire people and weaken their unions a bit). IOW, they moved more in our direction. Sweden also cut corporate income taxes and eliminated a lot of regulatory red tape.
Also, Europe’s demographics are anything but stable. They have a shrinking workforce that is dependent upon a large influx of immigrants to support a rapidly growing base of retirees. Their unfunded pension liabilities are staggering (even worse than ours – think Illinois and California public sector levels for the best of them).
The only way they can possibly grow fast enough to sustain a semblance of their lifestyle is to open up their borders the way we did in the 19th and early 20th centuries. It’s quite a sea change for their relatively homogeneous societies, and it has sparked a backlash.
KPOM over 12 years ago
I wonder what Kevin’s economic plan will be? Maybe he’ll take my advice from the primary and announce a “6-6-6” tax plan a la Herman Cain.
Stephen Gilberg over 12 years ago
How unusual for Stantis to draw a real person’s face. The only other I can recall offhand was Michael Moore several years ago.
Comic Minister Premium Member over 12 years ago
Being up there is very dangerous for Winslow.
KPOM over 12 years ago
You call this growth? As for Europe, austerity isn’t their problem. They were a disaster waiting to happen, and no amount of “stimulus” is going to get them out of their mess. They have an aging population, an inflexible labor market, a slow birth rate, and expensive entitlements. And Obama wants us to be more like them.
KPOM over 12 years ago
Actually, Germany (who is the main promoter of austerity) is the only thing holding Europe together now. Sweden and Latvia are also growing without resorting to “stimulus.” What those countries (particularly Germany and Sweden) quite wisely did about 10 years ago was liberalize their labor sector (i.e. make it easier to fire people and weaken their unions a bit). IOW, they moved more in our direction. Sweden also cut corporate income taxes and eliminated a lot of regulatory red tape.
KPOM over 12 years ago
Also, Europe’s demographics are anything but stable. They have a shrinking workforce that is dependent upon a large influx of immigrants to support a rapidly growing base of retirees. Their unfunded pension liabilities are staggering (even worse than ours – think Illinois and California public sector levels for the best of them).
The only way they can possibly grow fast enough to sustain a semblance of their lifestyle is to open up their borders the way we did in the 19th and early 20th centuries. It’s quite a sea change for their relatively homogeneous societies, and it has sparked a backlash.