Deficit Hawk Orszag Plays Against Type - WSJ.com
Gee - I feel entitled - so don't ask me to cut back or to pay my own way! Oh no! That's unfair.
Well, I guess Orszag, et al just hope the economy will magically heal itself. There isn't anything in this article that says anything at all about making a better business climate - only about a better 'entitlement' climate and guaranteeing benefits.
This sure is scary. Sort of like a husband asking a wife to cut back spending because he's out of work and she just skoffs at him while running off with a credit card to the mall.
We've see what UAW retiree entitlements did to the car industry in the US and the government and politicians are scared like heck to ask people to pay for things they want themselves.
The middling paragraph says it all:
"Mr. Orszag told The Wall Street Journal that the "unusual situation" the government finds itself in—with other countries willing to finance U.S. debt at low rates—"won't last." And, he added, "when it flips, the question is how do you get ahead of that to avoid the downward spiral" of rising interest rates, a plunging dollar and a sinking economy."
Sunday, January 31, 2010
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