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AP: Fiscal crises threaten Europe's generous benefits


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http://apnews.myway.com/article/20100523/D9FSPCAO1.html

LONDON (AP) - Six weeks of vacation a year. Retirement at 60. Thousands of euros for having a baby. A good university education for less than the cost of a laptop.

The system known as the European welfare state was built after World War II as the keystone of a shared prosperity meant to prevent future conflict. Generous lifelong benefits have since become a defining feature of modern Europe.

Now the welfare state - cherished by many Europeans as an alternative to what they see as dog-eat-dog American capitalism - is coming under its most serious threat in decades: Europe's sovereign debt crisis.

Deep budget cuts are under way across Europe. Although the first round is focused mostly on government payrolls - the least politically explosive target - welfare benefits are looking increasingly vulnerable.

"The current welfare state is unaffordable," said Uri Dadush, director of the Carnegie Endowment's International Economics Program. "The crisis has made the day of reckoning closer by several years in virtually all the industrial countries."

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SHOCKED!!!! shocked i tell you..

I was hoping the United states could undo most every entitlement program except for the very needy, undo healthcare, undo the NEW jobs bill. stop whatever you can.

Save that money, buy back our debt from China when they fail here shortly for 1/2 price.

We can't keep heading headlong towards what has already failed.

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I find it interesting that people see this as a "told you so" moment. The financial crisis threatened our dog-eat-dog financial system, almost crippling it at one point. Did anyone take any one saying "see I told you that heartless capitalism doesn't work" comments seriously as a result? Of course not.

Things that require money struggle when money is tight. Shocking.

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I find it interesting that people see this as a "told you so" moment. The financial crisis threatened our dog-eat-dog financial system, almost crippling it at one point. Did anyone take any one saying "see I told you that heartless capitalism doesn't work" comments seriously as a result? Of course not.

Things that require money struggle when money is tight. Shocking.

I did, because we stopped the dogs and leveraged from 7 to 14 to 30+

and we refused to let anyone fail.

and we still are doing it, but bigger

200billion more for "jobs"?

doctor fix just go in?

how many billion to fix unions now?

bailout for commercial foreclosures?

What did the DOG eat DOG capitalism stop by the way?

Didn't we just add to medicaid? and up unemployment to 99weeks, then through the end of this year?

We cut a COLA payment for medicare... Just kidding:

The new benefit would be $250 – or equivalent to a 2 percent increase in benefits for the average Social Security retiree beneficiary.

it was put in the stimulus bill after failing to get its own vote in the dem congress... 2% cola is job stimulus alright.

We sure did cut back.

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