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The frightening thing is that the U.S. is now pursuing Argentine-style fiscal policy with massive new borrowing and spending, and the specter of protectionism i
by ckinnan 17y ago
The frightening thing is that the U.S. is now pursuing Argentine-style fiscal policy with massive new borrowing and spending, and the specter of protectionism is emerging here with all of the new subsidies and bailouts for domestic automakers, banks, and insurers.
- ZeroGravitas 17y ago"the spectre of protectionism is emerging"? "new borrowing and spending"? "new subsidies and bailouts"? You give the impression that you only started paying attention to what your government does in the last few months. These things have gone on for decades (at the very least).
- ckinnan 17y agoI was a staffer for the U.S. House Budget Committee in the mid-1990s so I've been quite informed for some time. This year's budget deficit is going to be greater than the entire federal budget in 2000. Basically since 2002 spending discipline broke down, but the process has accelerated over the past 12 months.