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Europe Turns America Into a Bad Example on Fiscal Policy


The European Union’s fondest fans are more or less thrilled with last week’s major coronavirus spending spree. Leaders of EU member states agreed to pour €750 billion into fiscally strapped members such as Italy.

Those fans should be warier of getting what they’ve wished for. A similar aid package is proving controversial in the U.S.—the fiscal union where Europeans mistakenly believe this sort of thing is easy.

Europeans…

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