European socialism and American capitalism are exchanging roles now.
Italy’s new president, Mario Monti, an economics professor – over the heads of their endlessly crooked politicians – is axing social entitlements and union bosses’ stranglehold over the near-bankrupt economy. The people finally realized it’s the hard road uphill or down to nowhere. Spain and Portugal are making efforts in that direction also.
Germany, the backbone of the European Union’s economic survival, with its supply-side system, has an unemployment rate of 5.5 percent against our 9 percent; sharp cuts in social entitlements; union power curtailment; and company rights to hire and fire. All have brought about economic growth, confidence and encouragement to invest with proper tax incentives.
All this is exactly what Republicans are fighting for, but the Obama administration insists only on government solutions and dominance. Look only at socialist Europe’s failures, and awaken and learn from it!
S.G. von Schweinitz