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:

France: Cut the pay of top government officials by 30%. In the U.S., they could save a lot more by also cutting their excessively generous benefits by at least that amount too!

Switzerland: Apply a “debt brake“! Constitutionally limit the growth of spending by the federal government to the average rate of growth of tax collections.

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!

Featured Image: Source: NASA