Subject: txt intl 2010 - lbryt -
The global economy needs a "Tea Party" movement in Europe to lobby for fiscal conservatism there.
Despite "mainstream" analysts deriding the Tea Party as a right-wing fringe group, these conservative populists perform the critical function of focusing American political attention on the need for fiscal responsibility.
They make a good point, for example, in arguing that we shouldn't add a major new entitlement program for health care until we've figured out how to pay for the entitlement programs we've already got.
Europe, by contrast, lacks this sort of potent conservative movement to constrain government spending, depriving it of a strong voice for reducing public-sector spending and debt. In the absence of this counterbalance the socialist graft machine of spend, spend, spend holds sway.
In fiscal terms, "Europe" is a riderless horse galloping toward insolvency as can now be seen in Greece...
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