So, let me be the millionth economist to say it - slashing spending arbitrarily in the midst of a struggling recovery when borrowing rates are already incredibly low and on stuff that does nothing, nothing, to address long-term debt issues is just about the stupidest thing the government has done in my lifetime.
I cannot believe that we are being governed by grade schoolers.
1 comment:
Right on, Patrick. Relative to interest coverage, the deficit isn’t scary; neither is our debt-wealth ratio. Given the state of the economy, austerity is self-defeating. We’re currently spending too little, not too much.
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