December 20, 2012

Morning Line: When we step back from the cliff

Sam Smith - The cliff is just the beginning of our problems. Since we will have chosen a course that will offer virtually no spur to the economy and will increase the deficits of state and local governments we can expect serious trouble at best and another collapse at worse.

Maybe then we'll stop listening so hard to the people who created the mess in the first place.

1 comment:

greg gerritt said...

That is one of the issues with this whole cliff thing. Every potential solution relies upon the assumption of economic growth. Since we are very unlikely to get economic growth other than a little funny money ending up in the pockets of the 1%, none of the solutions hold water. What we need to do is smartly shrink the economy by giving up things like the war machine and fossil fuels. Without the war machine and disaster relief, current revenues would handle things just fine.