Share This Article with a Friend!

France Shows The Future For Big-Spending, Indebted America

Patrick J. Buchanan, The American Conservative

We are beginning to run historic deficits in a time of prosperity. Whatever the economic theory behind this, it bears no resemblance to the limited government-balanced budget philosophy of the party of Ronald Reagan. At what point does government consumption of the national wealth become too great a burden for the private sector to bear? At what point must cuts be made in government spending that will be seen by the people, as they are in France today, as intolerable?As the national debt surges with all the new deficits this decade, and interest rates inevitably begin to rise, interest on the debt will increase both in real terms and as a share of the budget. Again, is France the future of the West?