“We are at the inflection point indicated on the chart where the lines cross, just before the crisis: tax revenues are lagging spending in an enormous structural deficit; the State dominates the economy and its spending cannot possibly be contained, due to the political promises made to entitlement constituencies, fiefdoms and cartels, and the drag of unproductive State spending has sent the economy into systemic decline.  Each constituency, cartel and fiefdom is convinced that they are acting in their own best interests in demanding more State funding and subsidies.”

http://charleshughsmith.blogspot.com/2013/01/why-expansionist-central-states.html

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