ABOUT ME

 

Nick Ragone is an author, attorney and public relations executive in New York City. He earned a bachelor’s degree in history and political science from Rutgers University, and is a graduate of the Eagleton Institute of Political Science at Rutgers University (undergraduate) and the Georgetown University Law Center.

He is the author of three books: Essential American Government, Everything American Government, and President's Most Wanted. Nick is a regular contributor to the Fox News Channel and Fox Business, the PIX11 Morning Show, and has a weekly appearance on the popular Raph Bailey Radio Show.  He co-anchored PIX11's five-hour live inauguration coverage with Jim Watkins and Kaity Tong.

Nick is a contributor to Donklephant.com, one of the most influential political blogs on the web, and  has written for US News & World Report, The Star-Ledger, Real Simple Magazine and RealSimple.com.  Nick has been quoted in over two dozen stories on politics, the presidency, and public relations.  In December of 2007, Nick was named one of PR Week's 40 under 40 to watch, and in May of 2008 was featured in "Profiles of Success", a book about public relations. Nick lives in Jersey City, NJ, with his wife and two children, and spends what little free time he has obsessing on the Mets.

Nick can also be found on Facebook. http://www.facebook.com/profile.php?id=740817853


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« A-Rod fesses up; more likeable today then ever before | Main | Bi-partisanship rocks (or not) »
Sunday
Feb082009

Newsweek: We are all socialists now

Finally, a mainstream publication (or in this case, a left leaning publication) has come out and said the obvious: we're quickly heading down the road of European socialism.

It's the best piece on the topic that I've seen yet. The money paragraph:

Whether we like it or not—or even whether many people have thought much about it or not—the numbers clearly suggest that we are headed in a more European direction. A decade ago U.S. government spending was 34.3 percent of GDP, compared with 48.2 percent in the euro zone—a roughly 14-point gap, according to the Organization for Economic Cooperation and Development. In 2010 U.S. spending is expected to be 39.9 percent of GDP, compared with 47.1 percent in the euro zone—a gap of less than 8 points. As entitlement spending rises over the next decade, we will become even more French.

That should scare the croissant right out of you.  President Obama is in a bind ... there's no doubt that we need massive short term government spending to keep the recession from deepening; everyone agrees on that, though the amount is up for debate.

But long term this spending and debt accumulation is going to suffocate growth -- much like it has in Europe -- and leave us in the tenuous position of having a no growth economy at the same time entitlement costs balloon.  That is a recipe for disaster.

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Reader Comments (3)

maybe i am still in the glow of an obama win, but i think he has no idea how to fail and that all plans, policies, etc will work out for the best...then again, i also defended sammy sosa when people first talked about him taking steroids

February 9, 2009 | Unregistered Commentermitch

Mitche, you were so on point during the campaign ... and now you're just flailing. He was a great campaigner, but governing is a whole different story. Just ask Jimmy Carter.

February 9, 2009 | Unregistered CommenterNick

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July 18, 2011 | Unregistered Commenterking

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