Sadly, the Economist has veered left for so long it cannot even think straight anymore. After reading article and ignoring the silliness here’s the big error - it lists only three possible solutions:
1.Faster growth.
2. Austerity - a 35% cut in all transfer payments and a 35% rise in all taxes
3. Inflation. (5% per annum is the suggested amount)
Yet, nowhere in the article is a free market solution. All the above solutions originate from and are imposed by government. How about simply removing all the regulations restricting interstate trade in healthcare?
Why can’t you buy insurance from anywhere in America?
Is an Indiana doctor, nurse or pharmacist so poorly vetted and trained that this same licensed professional becomes a menace in Illinois?
The beautiful and under appreciated Commerce and General Welfare Clauses exist to remedy the natural abuse of one state preferring its citizens to the next and using licensing to restrict free trade internal to America.
Why not use the Constitution to benefit America for a change?
Excellent summation.