Our Economy Has Failed -- Until We Admit That, We're Screwed

[ddickey]

15. agreed

As far as economic disparity and inequality is concerned, the people are responsible, too. Americans have for too long been apathetic to government, to policy. When things go well, people disappear into their interests, into their immediate concerns; they cede responsibility to the government and revel in the benefits of citizenship. Thanks to this public apathy, our individual economic security vanished, ceded to the wealthy obsessed by pseudo-philosophers like Ayn Rand.

Krugman's recent article in NYT makes a forceful argument, I think, against these notions of austerity, of cutting spending. The funny thing, to me, is the Republicans all but admit that the economy is screwed--their answer: lower taxes and cut spending. The diagnosis is right, I think; but the solution doesn't seem to be working. Just ask the Irish how well reducing deficit spending is working out for them.