Thursday, February 28, 2013

Economist's Notebook: Utter Stupidity

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:

Fred Thompson said...

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.