Is a Better Life Worth Slower Growth?
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A recent Wall Street Journal editorial (The Entitlements of U.S. Decline, October 7, 2021) remarked that the Biden Administration\\u2019s claim that higher taxes and more social welfare spending were \\u201cthe path to national revival\\u201d was startling and audacious \\u201cespecially when the global evidence is the opposite.\\u201d The assertion flies in the face of reason just as the President\\u2019s claim the cost of his programs is \\u201czero\\u201d because of his tax hikes. Europe\\u2019s social welfare system has dragged down the continent\\u2019s economic growth for decades. But excessive social welfare spending can cause even greater harm than just slower economic growth. In this podcast, the Edifice of Trust host, Victor Bolles looks at the impact that cradle to grave entitlements can cause.
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