• Ten Years to Greece

      A member of the European Parliament, Daniel Hannan, worries about what he calls "The New Road To Serfdom." He says Europe is imploding, and it should be a warning to America.

      I interviewed him for my FBN show. And expand on his argument in my syndicated column this week:

      I told him that most Americans don't notice Europe struggling. I hear people say: "I went to Paris. I went to Rome. Things are OK."

      Hannan replied:"Things are OK in the same sense that a house that is massively overmortgaged can still be a nice-looking house. ... But there comes a point when the bills are due, and we've reached that point."

      Greece reached that point a while ago. There, rioters throw firebombs at police because the government can no longer afford to give people all the free stuff it once promised.

      Unfortunately, America also has out-of-control government programs. As this graph shows, the CBO projects that in just ten years America's debt will be just as bad as that of Greece:

      Debt Forecast for the United States

      Will Americans learn from Europe's example before it's too late? For more on that, the rest of the column is here.

      TAGS
      Syndicated Column
      Debt
      Greece