When they got into ‘trouble’ the Greek debt was 115% of GDP. After several rounds of austerity it is 165% of GDP because the austerity is tanking the economy. That is what it always does – austerity reduces the economy. It is a great way to control inflation, but makes a recession worse.
Economics based on the delusion of a semi-religious cult of austerity is driving us toward the Greater Depression.
]]>I am not poor… yet. I have some savings, and I’m living somewhat more modestly now. But I could easily outlive those savings. Easily.
Despite all right-wing claims, poverty is not a relative matter. If you’re poor in the United States, you are either hungry or homeless or both, and believe me, to the hungry and to the homeless, it does not matter that there are even poorer people in other parts of the world. Don’t tell me that poverty in the US is a relative matter, or I might be inclined to impoverish your mouth of teeth.
The fact that America’s government has allowed this situation to come about is utterly deplorable. Over the past 30 years since Saint Reagan was elected, Republican presidents (especially) and Democratic presidents (to a lesser extent, until Obama) have allowed or even caused this decline to take place.
Members of Congress of both parties share responsibility: I noticed today that congressional Democrats retracted their proposal to place a surtax on millionaires, who received the Mother of All Tax Breaks in the Bush Junior presidency. And Ron Wyden (DINO-OR) threw in with Paul Ryan to advocate vouchers for Medicare. So those of us who are young, old, poor or female, and are not wealthy, no longer have any help in Washington.
Fuck ’em all, I say. And I’m not offering to do the job.
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