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Britain unveiled its most radical shake-up of public finances in decades, outlining a deficit-reduction program Wednesday that will scale back the size of government, cut welfare benefits, shrink the armed forces, tax banks and raise the legal retirement age.
The far-reaching austerity plan places Britain firmly alongside other European nations, including Ireland and Greece, that have embraced deep spending cuts as the path to financial stability and a return to economic growth.
To those who disagree with this did these European countries really have any better alternatives?
By now, probably not. The realistic alternative would have been to budget within their means. Which lots of other European countries seems to have managed, so there is nothing really structural preventing it.
But its too late to fix it by realistic budgeting now, they need cuts too.
Throughout NATO's existence, U.S. leaders have complained about the tendency of the alliance's European members to skimp on defense spending and take advantage of America's security shield to free ride
To those who disagree with this did these European countries really have any better alternatives?
At least they are showing an understanding of the problem. Something we do not seem tograsp
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