America's giant welfare state
WE AMERICANS pride ourselves on not having a "welfare state". We're not like Europeans. We're more individualistic and self-reliant, and although we may have a "social safety net" to protect people against unpredictable personal and societal tragedies, we explicitly repudiate a comprehensive welfare state as inherently un-American.
Dream on.
Call it a massive case of national self-deception. Indeed, judged by how much countries devote of their national income to social spending, we have the world's second-largest welfare state - just behind France.
TRENDING NOW
DBS, OCBC, UOB rout lops billions off STI as inflation, rate concerns spook investors
Grab CEO’s wife Chloe Tong on life with Anthony Tan and finding her purpose
OCBC sheds S$8 billion in value as shares close nearly 6% down; analysts cautious on banks
Deal between tycoon friends sparks scrutiny of Philippine power sector