1. The European model is either Democratic Socialism, or Social Democracy, depending who you ask. 2. The US government is essentially bankrupt, and has been sp

1. The European model is either Democratic Socialism, or Social Democracy, depending who you ask. 2. The US government is essentially bankrupt, and has been spending far beyond its means for decades. But countries are not households. Sovereign countries cannot run of money. But they can run out of confidence. For a nation state, bankruptcy happens when its currency is no longer respected and essential imports become so expensive they cause hyperinflation. By any objective measure, the US today is closer to that today than Europe. (It's mostly the fault of tariffs, but the cause doesn't matter.) It's true the influence of neoliberal lobbying and opportunism by US corporates has reduced the effectiveness of welfare in the EU. But health and benefits are still higher, and the only country where insured health costs bankrupt 500,000 people a year is the US.