Quote:
Originally posted by Adder
As I do every time you say this, I will point out that there does not seem to me to be much compunction about borrowing whatever isn't raised in tax revenues.
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You know where the ultimate end game is on that, don't you? It's a way to get rid of programs down the road while making it look like you're just getting rid of reckless govt borrowing and spending.
There are a fair number of people who think the GOP's long term plan has been to break the bank and create a crisis whereby the govt has to radically downsize tons of its programs because it can't afford them, but as a simple political reality, it also can't raise taxes anywhere near what is necessary to pay for them. Bankrupt the beast, so to say, and pay out the domestic obligations at huge discounts.
ETA: I can't find the exact article on the subject, but if you google "University of Chicago" with "stiglitz" and "create a fiscal crisis" you find references.
