Think the answer to America's problems is bigger government? Swedish Finance Minister Anders Borg has seen the result up close and says it's not pretty for the economy or investors.
Anders Borg has a message for those who look to government to take over health care, rescue the financial system and run troubled corporations: I have seen the future--and it doesn't work...
These days President Obama is overseeing the largest increase in the U.S. government's share of the economy since it was conducting a world war almost seven decades ago. Economic stimulus, bailouts and expanded health care will all have to be paid for someday with either taxes or inflation. Borg is pushing Sweden in the opposite direction, encouraging the legislature to cut taxes, cap spending and privatize parts of health care.
"If you're working yourselves upwards in taxes and deficits, we're working ourselves downwards," says Borg...
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