If we don’t cut spending then we will end up at Greece. We have to tackle entitlement reforms.
Will America Face a Greek-Style Fiscal Crisis?
June 14, 2012 by Dan Mitchell
Since I’ve written several times that the United States will face a fiscal crisis if entitlement programs aren’t reformed, you won’t be surprised to see that I repeat those points in this CNBC debate.
But I’m not happy with my performance.
Not because my leftist opponent grabbed more air time (mostly because the host started challenging him, which also happens periodically when I’m on Kudlow’s show), but because he gave me a giant opening to completely destroy his arguments and I failed to seize the opportunity.
He kept arguing that America is more dynamic and innovative than Europe, which generally is true, but then he argued that we should copy Europe’s fiscal policy by increasing the burden of government spending.
I think the points I made to wrap up the debate were fine, but I would be much happier with my performance if I had pointed out this huge hole in his position.
As shown in this amusing and clever poster, you don’t solve the problems created by government with more government.