You want real world information?
Go look at what's happening in Europe right now. You can find one or two links on Drudge right now. The shining example of "liberal socialism," the "Middle Way," is folding up on several fronts.
American liberals spent years pointing at all the nice things our neighbors down the street had, when all the time they were maxing out all their credit cards and we were paying the bill for the police and fire departments.
Now we have people in charge of this country who think that Europe has all the right ideas. Our deficit is exploding. States and cities that have operated like Greece are going bankrupt.
But hey, why should I worry?