Quote:
Originally Posted by Adder
On target, except not really dealing with the extent to which advocates for austerity were breaking from economic analysis to advance pre-existing political objectives. And to the extent that it asserts that Trumpism is "new."
This is the same old 20th century unrest that gave rise to the modern social welfare state as a means to stave it off.
|
I think Churchill said taxing yourself to prosperity is like standing in a bucket and attempting to lift yourself. I see no reason this saying shouldn't be expanded to include austerity.
Once you have a crisis, you have a choice. Spend to restart the engines, or allow the thing to go full apocalypse and hope creative destruction works as well in reality, on a massive scale, as it does in theory. We decided to bail out asset holders and hope trickle down economics somehow delivered - the one economic theory we'd already proved Does Not Work.
That's the GOP's fault. They forced Obama to run out a quick and half-assed stimulus where we should have had a real one, with serious infrastructure spending.
Huh. I just agreed with you that the GOP is the problem on austerity. I have to go now -- shoot a pig out of the sky for dinner.
