Saturday 14 May 2011

"Embrace Default!"

"Our great crisis — astronomical debt — is one of will, not resources. We have the capital but not yet the sense of urgency to pay down our trillions, something we could do in a mere four or five years, without a traumatic loss of lifestyle, should the country find the courage to do so."
His promulgation of that Royal/Federalist "we" aside, Hanson is surely correct that the debt could be "paid down" in a few years - but certainly not paid off. Unless the current administration is removed in next year's election, I don't see how it will even be paid down since the Left will no doubt defend their SS programs to the hilt even though the Right will probably bow to further cuts in defense. Yet even if I am wrong about that, paying down the government debt in the next few years won't really attack the source of the problem - which is the propensity toward government spending as the now well-toned reflex rippling to the logical and Marxist-myelined impulse of Statist premises. That's ideology for you.

I'm with Schlichter and Zarathustra: "O my brothers, am I then cruel? But I say: That which is falling should also be pushed!"

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