Getting a bit closer

«They are certainly getting a bit closer. Mr Obama is raising taxes on the rich, bailing out failed businesses, tackling climate change and dramatically increasing public spending. A decade ago American government spending stood at 34.3% of GDP compared with 48.2% in the euro zone, a gap of 14 points; in 2010 it is expected to be 39.9% of GDP compared with 47.1%, a gap of less than eight points, according to Newsweek.»

[Le vieux canard, Economist March 14]