Monday, May 10, 2010
Samuelson On The Greek Tragedy
Robert Samuelson has an excellent and sobering column up today on why Americans need to pay attention to the meltdown in Greece (and eventually to wider Europe). I'll give you a hint - this is only Act I.
Subscribe to:
Post Comments (Atom)
Posts
2 comments:
Robert Samuelson is without a doubt the best columnist on economics right now. But all he's saying here is what conservatives have been screaming since the sixties. The welfare state cannot sustain itself. No matter how wealthy the society, if you subsidize the non-productive and tax the productive you will get less wealthy everyday that passes. Europe's norm for unemployment is 8-10 percent. Their norm for growth is 1.5-2 percent. Their economies suck because they bleed them dry feeding the bureaucracy. And we've got a President who wants this for us? Is he crazy?
The only person on the Hill who has the moral fortitude to address this issue is Senator Tom Coburn. The rest of them talk a good game, but when it comes down to brass tacks they talk fiscal responsibility, but walk pork programs and continue to throw money down some of the Defense Department's black holes.
Agree with Hammer and would submit that he definitely has to have the best mustache of any economics columnist of note.
Post a Comment