Socialism does not work; Europe's lesson for the US?

"...•Socialism does not work – Socialism in Europe and in this country always starts the same way – promise people free health care and free retirement and free housing and whatever free stuff wins political favor. Some claim that the "rich" will pay for it all. But, the rich do not have enough... show more "...•Socialism does not work – Socialism in Europe and in this country always starts the same way – promise people free health care and free retirement and free housing and whatever free stuff wins political favor. Some claim that the "rich" will pay for it all. But, the rich do not have enough money. They may have enough to pay for the very poor, but not for everyone. So, the socialists borrow the money. That way, they are still giving the populace free health care. But, at some point you can't borrow the money anymore because the people you are borrowing it from realize that they can never be paid back. This is the tipping point at which socialism fails. Past this point, you have to tax the people to whom you promised the "free" stuff in order to pay for their "free" stuff (those people are the middle class). The people understandably don't want to give up their free stuff or have to pay for it. But, they will have to do one or the other. And, an entire generation will suffer.

Don't delay fixes – Many of the debt problems of European countries were apparent years ago. But, they kept putting off the solutions for the reasons above. As a result, they got to a point at which the depth of the problem had eliminated the efficacy of most possible solutions. America has a debt problem. The problems in Europe have actually bought us some time as we remain "the cleanest shirt in a dirty laundry bag." But, not much time. The government has run up a trillion-dollar deficit in every year of Barack Obama's presidency, and will continue to do so under his current budget proposal. This cannot happen or we will descend into decades of economic darkness and reduced living standards. We need to get on it now." http://www.ocregister.com/opinion/europe-363669-free-people.html

By JOHN CAMPBELL / Republican congressman representing Irvine, other areas of South Orange County.
Update: @Alma; You are simply wrong on the facts. The debt crisis was caused by the US Government directing and demanding lending institutions stop using traditional underwriting standards. Instead the Government mandated the lending institutions and banks use an irrational standard not tied to the borrowers ability to... show more @Alma; You are simply wrong on the facts. The debt crisis was caused by the US Government directing and demanding lending institutions stop using traditional underwriting standards. Instead the Government mandated the lending institutions and banks use an irrational standard not tied to the borrowers ability to repay the debt. It is what it is, and Reality does not care how you feel.
Update 2: @House: lol, Ahhh, the ignorance of youth. You don't even know what you don't know...yet think you have it figured out. What flavor of kook-aid are you drinking?
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