From American Thinker
By Steve McCann
On the 6th of November last, I made a wager with some of my associates in London and Zurich that within a year they would be pining for the return of George W. Bush and his "cowboy presidency".
As of today, my friends have collectively conceded and are forwarding payment.
Why the sudden capitulation? Reality has begun to set in with a vengeance.
For nearly 65 years Western Europe has lived under the military umbrella provided by the United States. That left these countries free to minimize spending for defense and maximize spending on social issues. European socialism became a new hybrid form of historic socialist thought. It combined a modified capitalist system to provide the funding and the government to oversee cradle to grave security. At that point in history, United States and European economic hegemony controlled world trade. Surely prosperity, despite some expected minor ups and downs, would be expected far into the future, thus financing all the spending on both sides of the Atlantic.
But some unexpected things happened on the way to this never-ending golden age.
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