QUOTE OF THE DAY: “The current welfare state is unaffordable…”

The current welfare state is unaffordable… The [sovereign debt] crisis has made the day of reckoning closer by several years in virtually all the industrial countries."
            - Uri Dadush, director of the Carnegie Endowment's International
              Economics Program, quoted in the NZ Herald

You can only fake reality for so long.  The welfare state model is broken.