Toles Toon: The Austerity Economy

[n2doc]

Friday rant: Party like it’s 1937 edition
By Tom Toles
Is Americans learning? Guess! Having repealed the Glass-Steagall banking regulations to such stellar effect of starting the second Great Depression (this one is the slow-motion replay so we can watch every gory detail in hi-def), now we are reliving the 1937 BIG FUMBLE again too!

The BIG FUMBLE was deciding that the Time For Austerity had come again, only to derail the recovery for yet more years of high unemployment and needless economic stagnation. So here we are, having decided that the stimulus didn’t work, even when the evidence says it mostly did, considering its modest size, and having predicted that bailing out the American auto industry wouldn’t work, even though it did, and having declared that inflation is ALWAYS just around the corner, even though the WAGE part of the wage-price spiral never seems to show any, and having decided that OBAMA is responsible for the deficit that GEORGE BUSH budgeted and topped off with an economic meltdown, NOW we must further tighten the belt around the windpipe of the gasping recovery!

Oh, and while we’re at it, let’s put the government into pointless default to show how serious we are about sane budgeting. Good political theater! If you don’t remember we’ve seen this one before.

[Octafish]

1. True, every word and image.

K&R

[badgerpup]

2. K & R n/t

:grr:

:kick:

[xchrom]

3. Recommend