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Aug
30
Austan Goolsbee, Liar
Filed Under Economics
| The Daily Show With Jon Stewart | Mon – Thurs 11p / 10c | |||
| Austan Goolsbee | ||||
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Two “answers” which speak volumes of our leaders:
- At 1:12, Jon Stewart asks “Are we broke?”, Goolsbee replies “No”.
Bizarre. It seems that a country running trillion dollar deficits and unable to function without borrowing money could be classified as “broke”, but not to our leaders.
- At 4:20, Goolsbee says: “When you’re looking in the face of the next Great Depression that’s not the time to tighten the belt”
Indeed, when has there *ever* been a time when either party thought it would be a good idea to tighten the belt and stop borrowing? Heaven forbid we curtail spending on military/”the children”/retirees/politically connected segments of the population.
Takeaway: Leaders will do what it takes (lie, obfuscate, deceive) to accrue political capital. It is not in their interest to be honest with us, especially when our borrowing/spending based economy relies on confidence that “everything will be ok”. A system heading over a cliff due to instability cannot be solved with more of the same pathetic ideas (reliance on debt, policy tweaks) that got us here.
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