What we are seeing is the failure of European socialism and social welfare states. What is basically happening here is this sovereign debt crisis could come over and spread to us. We’ve got to make sure we put in the right kind of fiscal controls, the right kind of balancing to prevent this from happening. Because what’s happening is the markets are questioning the viablility of sovereign debt. The markets are questioning whether or not governments are going to be able to live up to all the promises and debt that they have racked up. …The Democrats haven't learned that yet, but they will.
Sooner or later you run out of spending other people’s money with welfare states.
Monday, May 10, 2010
Political Quote of the Day
From Rep. Paul Ryan, talking about the Greek debt crisis (h/t Say Anything):
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They may learn, but they won't change.
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