The ancient Greek culture was noted for its arts, including plays that were either tragic or comedic. Usually these plays delivered a moral message to the people of Greece, and enforced shared cultural values. So it is ironic that on the political stage in Greece today there is a tragedy unfolding that will impact financial markets worldwide, and provide moral lessons to even the most jaded politicians.
According to a New York Times editorial (linked below) the swollen bureaucracy in Greece, “verge on the dysfunctional. Their staffs are too big — the result of parties in power using public jobs as electoral favors — too unskilled, too rigid from confused and archaic legal procedures, too hierarchical, and lacking morale. Too often, the minister in charge lacks efficient means, information and technical know-how from those he or she seeks to direct.”
I am of the opinion that the criticism of the editorial could easily be applied to most of the candidates from the far right in the current GOP primary race. They are vetting a bunch of arrogant know-nothings who are too unskilled at public policy to understand how not raising the debt ceiling in America will result in higher interest rates on public debt. Higher interest rates will increase, not decrease annual deficits. The far right is too rigid from confused and archaic choruses singing only “lower taxes”—to see that spending cuts alone will not solve the long term debt problems. They lack even the most basic understanding of how markets work, and are busy fiddling the same old austerity song while America’s economy stagnates.
We need jobs programs to get Americans back to work. As Americans go back to work, government revenues will increase, improving our ability to meet our debt obligations. We need shared sacrifice—meaning that Social Security, Medicare and Medicaid shouldn’t be on the chopping block until we’ve addressed the expenditures of the military/industrial complex, and tax credits that no longer serve the common good. We should question the patriotism of companies that ship jobs overseas and don’t pay taxes at home. When we’ve done all that, it will be time to limit the national debt to a more sustainable percentage of GDP.
Failure to take each of these steps, in the order outlined above, will result in a Greek Tragedy right here in America. We can’t simply place all responsibility for the national debt on the under-employed middle class, while giving corporations and billionaires a free ride, and realistically expect that America will continue to enjoy any kind of quality of life.
Homework
Everything You Never Wanted to Know about Ancient Greek Theatre
http://www.nytimes.com/2011/06/28/opinion/28iht-edfeatherstone28.html
According to a New York Times editorial (linked below) the swollen bureaucracy in Greece, “verge on the dysfunctional. Their staffs are too big — the result of parties in power using public jobs as electoral favors — too unskilled, too rigid from confused and archaic legal procedures, too hierarchical, and lacking morale. Too often, the minister in charge lacks efficient means, information and technical know-how from those he or she seeks to direct.”
I am of the opinion that the criticism of the editorial could easily be applied to most of the candidates from the far right in the current GOP primary race. They are vetting a bunch of arrogant know-nothings who are too unskilled at public policy to understand how not raising the debt ceiling in America will result in higher interest rates on public debt. Higher interest rates will increase, not decrease annual deficits. The far right is too rigid from confused and archaic choruses singing only “lower taxes”—to see that spending cuts alone will not solve the long term debt problems. They lack even the most basic understanding of how markets work, and are busy fiddling the same old austerity song while America’s economy stagnates.
We need jobs programs to get Americans back to work. As Americans go back to work, government revenues will increase, improving our ability to meet our debt obligations. We need shared sacrifice—meaning that Social Security, Medicare and Medicaid shouldn’t be on the chopping block until we’ve addressed the expenditures of the military/industrial complex, and tax credits that no longer serve the common good. We should question the patriotism of companies that ship jobs overseas and don’t pay taxes at home. When we’ve done all that, it will be time to limit the national debt to a more sustainable percentage of GDP.
Failure to take each of these steps, in the order outlined above, will result in a Greek Tragedy right here in America. We can’t simply place all responsibility for the national debt on the under-employed middle class, while giving corporations and billionaires a free ride, and realistically expect that America will continue to enjoy any kind of quality of life.
Homework
Everything You Never Wanted to Know about Ancient Greek Theatre
http://www.nytimes.com/2011/06/28/opinion/28iht-edfeatherstone28.html
RSS Feed