What steps might fiscally responsible politicians follow to get a grip on an out-of-control spending problem? Here’s a list of ideas from around the world:
Sweden: Automatically cut social spending when tax revenues fall. That way, the amount the government spends on things like health care and college education stays linked to the ability of the taxpayers to pay for them, which has the benefit of making sure they stay affordable.
The funny thing: all three ideas come from countries that have strongly socialist economies!