NY Times article on Europe

The May 23, 2010 New York Times most emailed article was Europeans Fear Crisis Threatens Liberal Benefits

It was an eye-opening piece, clearly reflecting the shifting sands in the social safety net that defines most of Europe. There are implications for the United States and other similar economic systems, the repercussions of which portend prospectively a new realism. This new realism could pave the way for a more pragmatic mode of funding social spending that does not include debt financing – a positive development for economic solvency.