Tuesday, January 7, 2014
The Massive Cost of a Bloated Welfare State
In the early 1960s, total government spending in Sweden was approximately 30% of GDP and Sweden was the 4th wealthiest country in the world. By the early 1990s, government spending had literally doubled to 60% of GDP and Sweden fell all the way to 17th in terms of wealth. Yes, the Swedes eventually scaled back on some of this spending and they also cut back significantly on regulations (two factors that greatly helped their economy) but how anybody out there can still say that what they did in the '70s and '80s was good for the economy is well beyond me.
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4 comments:
In democratic socialist nations the rulers still have to be elected. Do I see America trotting further into democratic socialism? You can bet I do.
And Bush, Nixon, and Hoover are proof-positive that a Republican can get us there just as surely as a Democrat can.
When the authorities control 60% and the people control 40%, this truly is a dangerous situation with the distribution of wealth.
And they aren't out of the woods yet in that, while they did in fact reduce spending significantly in the '90s, they're still going to have a day of reckoning eventually due to the massive entitlements and pensions. JUST LIKE US!
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