While George Bernard Shaw has famously remarked that we learn nothing from history, it's amazing that we can't even learn when it's right in front of our faces.
Hunter from The Daily Kos has an excellent piece (a little long, but worth the time) on the utter failure of austerity measures in the European debt crisis. Rather than expand economies--the conventional and incorrect wisdom--they've actually contracted the economy and made it worse. But you cannot pick up a newspaper or watch a news show without idiot after idiot (including plenty of Dems, and our fearless leader, President Obama) saying we have to get the deficit under control.
No, we don't. We have to get people jobs. We have to fix our sorry ass infrastructure (how come so many people don't want to leave their children a huge federal debt but seem to have no problem with leaving them with crumbling bridges, debilitated aqueducts, and roads with zillions of potholes, all of which pose a much greater danger than a red balance sheet?). We need to train and educate the workforce displaced by the Great Recession.
It takes money to make money. Do that, and the deficit will take care of itself.
Peace,
emaycee
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