HERE'S PROOF THAT LIBS'N LEFTIES ARE WRONG TO BLAME AUSTERITY FOR EUROPE'S FALTERING ECONOMY

LIB'S N LEFTIES ARE WRONG BECAUSE THE PROBLEM STARTED WHILE EUROPE WAS IN THE MIDST OF PROFLIGATE SPENDING.

IF PROFLIGATE DEFICIT SPENDING WAS STIMULATORY THEN EUROPE'S ECONOMY WOULD BE BOOMING AND THEY'D BE LED BY GREECE!

AND SOVEREIGN DEBT EXPLODED WITHOUT "TWO UNFUNDED WARS" AND WITHOUT "BUSH TAX CUTS FOR THE RICH" AND WITHOUT "MASSIVE PRO-CORPORATION DEREGULATION" = THE FAVORITE TARGETS FOR THE LIBS'N LEFTIES.

AS GLENN REYNOLDS HAS REPEATEDLY POSTED, "WHAT CAN'T GO ON FOREVER WON'T".

GREECE AND SPAIN AND IRELAND AND PORTUGAL AND ITALY JUST COULD NOT GO ON DIGGING THEMSELVES DEEPER ONTO DEBT VIA WASTEFUL SOCIALIST SPENDING SCHEMES - AND REVIVING THOSE SCHEMES CAN'T IMPROVE THINGS ONE-TENTH OF PERCENTAGE POINT.

THEY NEED MORE ECONOMIC GROWTH AND INCREASING TAXES AND REGULATIONS WON'T ACCOMPLISH THAT.

THEY NEED TO CUT TAXES AND REGULATION - ESPECIALLY ANTI CARBIN TAXES AND ENERGY TAXES - AND REGULATIONS THAT HAVE PETRIFIED THE LABOR MARKETS.

IF THEY DO THESE THINGS THEN THINGS WILL PICK UP IMMEDIATELY.

THEN, THEY SHOULD GRADUALLY RAISE THE RETIREMENT AGE AND GRADUALLY REDUCE ENTITLEMENTS OVER THE LONG-TERM TO GET THEM IN BALANCE WITH ACTUARIAL DEMOGRAPHICS.

WHY DON'T THEY DO IT?

SIMPLE:

IT MEANS SMALLER GOVERNMENT.

AND THAT MEANS LESS POWER FOR POLITICIANS.