PantyFanatic,

Remarkable! I find myself in the unusual position of agreeing with what you have to say. Indeed, the only qualification I might add is that you will find little support in what I wrote above for the extension of the services, merely that funding them was necessary and inevitable.

One additional aspect of an extensive government is that it is more likely to turn a blind eye to inflation. Take for example the looming crisis in Europe as the very generous social benefits seniors enjoy there will need to paid for by a shrinking tax base (employed population). In order to avoid the politically dangerous action of raising taxes, the EU governments may well turn to the capital markets for funds. The insidious part is if then there is significant inflation before the notes are due, the payments will be made in devalued EUs. Good for the politicians who keep their jobs, but bad for the people whose savings are ravaged.

As has been said by many before me, and will I hope not be forgotten; “When dining with the devil, it is best to use a long spoon”.

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Eudaimonia