In "Fragile By Design", Charles Calomiris and S.H. Haber basically compare/contrast Canada and the US and it seems that in Canada, "social spending" is an expli

In "Fragile By Design", Charles Calomiris and S.H. Haber basically compare/contrast Canada and the US and it seems that in Canada, "social spending" is an explicit government function where in the U.S., it's swept under the rug using finance to try to preserve certain myths. It's probably not the whole story, but it's compelling.