Why do libs think Europe is in a debt crisis?

Is it the TEA Partiers? Is it the banks, who are merely loaning money to countries, lest they have defaulted long ago? Or do they blame Bush? We know they don't blame social entitlement spending, even though European nations have a much larger tax percentage than us. So who do they blame?|||You make an excellent point.


Liberalism is the only connection.|||But the US has a debt crisis; and you don't have a real welfare state. It's a Western problem. The fact that you spend about 10% more of your GDP on healthcare than most Western European countries, and still don't have universal healthcare isn't good.



Don't get me wrong, I love America, but don't compare it to Europe. We are in a completely different situation to you.|||when you try to do social reform and get rid of the nanny state this is what you get people don't want to loose the entitlements|||Bad investments in bundled sub-prime mortgages, which the sellers knew would fail. Blame whoever sold the triple-A rated mortgage backed securities and bet against them (credit default swaps), and you'll be blaming the proper culprit...|||If Bush didn't ask Europe to join the Wars in the middle east, then...... ;D|||A couple of questions just to see if you're a serious person or another idiot talking out of your ***:



Name the country that spends the same percentage of their GDP, about 17%, on social expenditures as the United States? Of course you don't know because the right is illiterate. It's Canada, who has universal health care, with equivalent outcomes to the U.S. system at about half the individual cost of care. They also pay about 8% for prescription drugs as we do and without at $15 trillion dollar government giveaway to pharmaceutical companies like we have with George Bush's Medicare part D.



What's Canada's individual income tax rate? 15% on the first $41.5K, 22% on the next $41.5K, 26% on the next $45.7k, 29% on everything over $128K. provincial taxes run another 6-14%. So not that much different than ours.



How about corporate tax rates? 11% on Canadian controlled, 16.5% on foreign controlled. Less than half our rates, encouraging business instead of exporting it. .



Canadian debt to GDP, 53%. U.S = 96%.



Canadian unemployment, dropping from 8.5% last year to 7.2% this year. US. 9.1 and holding.



They are in great shape compared to us despite equivalent social spending. How can that be? well they have not gotten into two unfunded decade long wars for one thing. They don't spend $140BUSD a year on NATO and only $6.4BUSD on the UN.. They spend 1.14% of GDP on defense, 111th in the world. We spend 3.6% of GDP on defense.



So why do the Canadians get a better deal on social expenditures for the same percentage of GDP and have lower corporate tax rates? Well, they are not protecting Europe from a Soviet threat that no longers exists, or Japan, or Saudi Arabia, or any other country that doesn't have to defend themelves while American tax payers foot the bill, and they aren't subsidizing every company that can afford it's own whore in the Senate..