Europe abandoning what America is embracing

From  Europe rewrites its rule book in creating fund to contain financial crisis:

The massive emergency fund assembled to defend the value of the euro is backed by a political gamble with an uncertain outcome: that European governments will rewrite a post-World War II social contract that has been generous to workers and retirees but has become increasingly unaffordable for an aging population.

So Europe is drawing back from the social democratic welfare state JUST AS the United States is adopting the social democratic welfare state.

About Gene Veith

Professor of Literature at Patrick Henry College, the Director of the Cranach Institute at Concordia Theological Seminary, a columnist for World Magazine and TableTalk, and the author of 18 books on different facets of Christianity & Culture.

  • Mark Veenman

    Ironically, the most fiscally responsible nations are those in the Eastern bloc. Just as ironically, it was a liberal democratic party in Canada that, for over 10 years starting in the ’90s, ran up budget surplusses and paid down a large chunk of the national debt positioning Canada very favourably in the latest crisis. I honestly worry that the US, with the added power of being able to print its own money, might be headed for the same insolvency as Greece. Stop spending so much printed cash down there! You’re gonna ruin the party!

  • Mark Veenman

    Ironically, the most fiscally responsible nations are those in the Eastern bloc. Just as ironically, it was a liberal democratic party in Canada that, for over 10 years starting in the ’90s, ran up budget surplusses and paid down a large chunk of the national debt positioning Canada very favourably in the latest crisis. I honestly worry that the US, with the added power of being able to print its own money, might be headed for the same insolvency as Greece. Stop spending so much printed cash down there! You’re gonna ruin the party!

  • sg

    Investors don’t believe it. The euro should have strengthened after the deal. It didn’t. It fell. The point isn’t about saving Greece. It is about saving the banks that hold Greece’s debt. Greece can default anytime and reissue the drachma (and may still), but then the debt holders will be SOL.

  • sg

    Investors don’t believe it. The euro should have strengthened after the deal. It didn’t. It fell. The point isn’t about saving Greece. It is about saving the banks that hold Greece’s debt. Greece can default anytime and reissue the drachma (and may still), but then the debt holders will be SOL.

  • J

    The US is adopting the social democratic welfare state?

  • J

    The US is adopting the social democratic welfare state?

  • http://www.toddstadler.com/ tODD

    “So Europe is drawing back from the social democratic welfare state JUST AS the United States is adopting the social democratic welfare state.” Ah, yes. “Just as”. First Obama created Social Security. Then Obama created Medicare. And Medicaid. Aaaand a whole host of welfare state programs. Curse you, Obama! Why did you have to enact all these changes so suddenly?! Why couldn’t you have phased them in over a period of decades, under different administrations? And why enact them all JUST AS Europe is completely abandoning all their welfare state programs and becoming a truly free market society just like the conservatives have told us we need?

    What, too far?

  • http://www.toddstadler.com/ tODD

    “So Europe is drawing back from the social democratic welfare state JUST AS the United States is adopting the social democratic welfare state.” Ah, yes. “Just as”. First Obama created Social Security. Then Obama created Medicare. And Medicaid. Aaaand a whole host of welfare state programs. Curse you, Obama! Why did you have to enact all these changes so suddenly?! Why couldn’t you have phased them in over a period of decades, under different administrations? And why enact them all JUST AS Europe is completely abandoning all their welfare state programs and becoming a truly free market society just like the conservatives have told us we need?

    What, too far?

  • J

    If the US is embracing a welfare state, we’ve got a long, long way to go. Here’re the first lines from this report from March:
    http://www.healthcarefinancenews.com/news/more-20m-working-americans-lack-health-insurance

    “More than 20 million U.S. workers lack health insurance, according to the Center for Economic and Policy Research. A report from the center indicates that almost 17 percent of workers in 2008 had no health insurance of any form, up from 7 percent without coverage in 1979. The report reviews government data on health insurance coverage from 1979-2008 and focuses exclusively on workers. “Over 20 million of the 46 million Americans without health insurance are working for a living,” said John Schmitt, an economist at the CEPR and co-author of the report.”

    Interestingly, I could find no corresponding reports that European countries are abandoning universal health care.

  • J

    If the US is embracing a welfare state, we’ve got a long, long way to go. Here’re the first lines from this report from March:
    http://www.healthcarefinancenews.com/news/more-20m-working-americans-lack-health-insurance

    “More than 20 million U.S. workers lack health insurance, according to the Center for Economic and Policy Research. A report from the center indicates that almost 17 percent of workers in 2008 had no health insurance of any form, up from 7 percent without coverage in 1979. The report reviews government data on health insurance coverage from 1979-2008 and focuses exclusively on workers. “Over 20 million of the 46 million Americans without health insurance are working for a living,” said John Schmitt, an economist at the CEPR and co-author of the report.”

    Interestingly, I could find no corresponding reports that European countries are abandoning universal health care.

  • sg

    When an individual goes bankrupt, he can discharge his medical bills but not student loan debt or tax debt.

    If individuals could not discharge their medical debts, the providers would be able to collect more from those who benefitted from their services. Providers would not need to shift so much cost to those who actually pay.

    FYI

    Texas Tech is going to have a new 3 year MD program

    http://chronicle.com/article/Texas-Tech-Announces-3-Year/64830/

  • sg

    When an individual goes bankrupt, he can discharge his medical bills but not student loan debt or tax debt.

    If individuals could not discharge their medical debts, the providers would be able to collect more from those who benefitted from their services. Providers would not need to shift so much cost to those who actually pay.

    FYI

    Texas Tech is going to have a new 3 year MD program

    http://chronicle.com/article/Texas-Tech-Announces-3-Year/64830/

  • Joe

    I saw this discussion of Sweden and thought it might be interesting to those who have commented here, since Sweden is generally held out as a success story of the social welfare state:

  • Joe

    I saw this discussion of Sweden and thought it might be interesting to those who have commented here, since Sweden is generally held out as a success story of the social welfare state:

  • sg

    People often point to Sweden as an example of socialism that is not so brutal despite the uh, embrace of uh, modern liberal values. The problem that could bring down Sweden is immigration. Swedes are extremely homogenous and a very low crime, high trust society, kind of like Japan. Immigrants in Sweden have a crime rate almost 10x that of native Swedes. So if Swedes with their low birthrate are not replaced by different people, it will be interesting to see if they can continue on the current path without imploding. More likely they will be replaced by immigrants whose social dysfunction will quickly overwhelm the system and destroy the very small and shrinking indigenous population.

  • sg

    People often point to Sweden as an example of socialism that is not so brutal despite the uh, embrace of uh, modern liberal values. The problem that could bring down Sweden is immigration. Swedes are extremely homogenous and a very low crime, high trust society, kind of like Japan. Immigrants in Sweden have a crime rate almost 10x that of native Swedes. So if Swedes with their low birthrate are not replaced by different people, it will be interesting to see if they can continue on the current path without imploding. More likely they will be replaced by immigrants whose social dysfunction will quickly overwhelm the system and destroy the very small and shrinking indigenous population.

  • Richard

    “The United States posted an $82.69 billion deficit in April, nearly four times the $20.91 billion shortfall registered in April 2009 and the largest on record for that month, the Treasury Department said on Wednesday.” And it appears the health care bill will cost a LOT more than projected, according to the CBO. And now there is talk of adopting a European-style VAT. But, no matter, it’s Bush’s fault, right?

  • Richard

    “The United States posted an $82.69 billion deficit in April, nearly four times the $20.91 billion shortfall registered in April 2009 and the largest on record for that month, the Treasury Department said on Wednesday.” And it appears the health care bill will cost a LOT more than projected, according to the CBO. And now there is talk of adopting a European-style VAT. But, no matter, it’s Bush’s fault, right?


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