The Welfare State's Day Of Reckoning Is Here

The Welfare State was originally designed to provide society with a security net through the redistribution of income. America first began their form of a welfare state in the 1960s-1970s, through the implementation of Medicare, Medicaid, and Food Stamps. Europe began building on their style of the welfare state even before America, during the 1950s-1960s as economic growth began rising. However, with the fall in economic growth and change in demographics, the welfare state in Europe began deteriorating. As deficits rise within nations, it becomes more and more difficult to pay for promised benefits, and economic instability will ultimately rise. The current situation in America has many parallels with that of Europe.

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