Tuesday, August 9, 2011

The economy: the real choices

The S&P Downgrade By PAUL CRAIG ROBERTS


"What I have explained can be comprehended within existing ways of thinking. Within this way of thinking, as the debt ceiling imbroglio made clear, the policy choices are between eliminating Social Security and Medicare or eliminating wars and low tax rates on the mega-rich in order to eliminate the annual budget deficits that are threatening the dollar’s exchange value and enlarging the national debt.

...

Spending must be reined in, and the only obvious chunk of spending that can be cut without throwing millions of Americans into the streets is the wars."



Bill

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