I think people in the US as well as Europe are finally understanding that spending billions that you don't have is not a way to economic prosperity.
It's not just the Republicans who came out ahead. Last month a conservative coalition swept into power in Germany. In France, Nicolas Sarkozy's party has considerable public support. In Britain, conservatives are poised to win their first national election in 17 years. Even in Denmark and Sweden, where social democrats usually win, the right is in power. In fact, across continental Europe, only one major country, Spain, has a left-wing ruling party.
I think this criticism of PelosiCare is especially valid as well.
On health care, however, the story looks different. There are two great health-care crises in America—one in-volving coverage and the other cost. The Obama plan appears likely to tackle the first but not the second. This is bad economics but also bad politics: the crisis of cost affects 85 percent of Americans, while the crisis of coverage affects about 15 percent. Obama's message to the country appears to be "We have a dysfunctional health-care system with out-of-control costs, and let's add 45 million people to it."
Plus it raises taxes on some Americans while increasing costs for the rest of them. I can't wait until 20-somethings suddenly get a tax bill for $900 when they choose to forgo health insurance for more spending money. It will be interesting to see the backlash that will result from these same people being sent to prison for the crime of not having health insurance.
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