Does Greece hold up the image of America’s future?

We’ve all heard of Grexit — Greece quits the euro; catastrophe theory needs to be rethought. But what about Amexit: the United States quits the real world be emulating the very worst of European fantasy economics? If only, under Obama, that really was fantasy…

Last September, I wrote about some very disturbing 10-year projections that showed a rising burden of government spending. Those numbers were rather depressing, but a recently released long-term forecast from the Congressional Budget Office make the 10-year numbers look benign by comparison.

The new report is overly focused on the symptom of deficits and debt rather than the underlying disease of excessive government. But if you dig into the details, you can find the numbers that really matter. Here’s some of what CBO reported about government spending in its forecast.

  • California? New York? Minnesota? illinois? Blue state America is already Greece-ized.

  • I have been thinking for years that the US economy will one day (any day) suddenly collapse – in view of the astronomical federal, state and city debts, not to mention a host of other problems. When it does, the whole world will be affected in unpredictable, horrible ways.

  • David Murrell

    One wonders why more conservative articles are not written about the dangers of North American society becoming more and more like Greecean and European societies. I was in a seminar hosted by my economics department, when I mentioned during the Q/A session about the “rigidities” in the European labour markets. Well now one NDPer in the group bellowed angrily about the positive side in the European labour market(!)

    In Europe young people’s unemployment rates are depressingly high; young European graduates are migrating to North America; the European Union’s GDP scarcely rises; interest rates are like Japan, near zero. Europe is a stagnant, politically-correct society, with little hope. Yet Obama’s (and Justin’s and the NDP’s) core philosophy is to move North America towards that of Europe. More conservatives should argue against this advocacy.

  • tom_billesley

    Wilkins Micawber is my favourite economic theorist.
    I guess leftard spendthrifts don’t read Dickens.

  • Exile1981

    I noticed that to keep the spending at only 25% they had to slash military and infrastructure spending from 11.6% to 6.9% and it only barely covered for the increase from 2.5% to 8% for health care.

  • simus1

    Looters at work.
    And monsters awaiting the excuse needed to “reorganize” the population when the house of cards collapses.