Saturday, July 30, 2011

sustainabililty

finally, some comforting words about our economy:

"...the posturing about whether and how Congress should increase the debt ceiling by Aug. 2 has been a hollow exercise. Failure to increase the borrowing limit would harm American prestige and the global financial system. But that's nothing compared with the real threats to the U.S.'s long-term economic health, which will begin to strike with full force toward the end of this decade: Sharply rising per-capita health-care spending, coupled with the graying of the populace; a generation of workers turning into an outsize generation of beneficiaries. Hoover Institution Senior Fellow Michael J. Boskin, who was President George H.W. Bush's chief economic adviser, says: 'The word 'unsustainable' doesn't convey the problem enough, in my opinion.'" - Peter Coy

awesome. see you on the bread line.

3 comments:

Suzan said...

Yep.

We just love it when they scare us silly about the health care nightmare they've bequeathed to us, don't we?

It's like awaiting "Scream 50" and already knowing the plot. (Whoops! Didn't mean to give it away.)

Taken from our friendly Hoover Institution Senior Fellow Michael J. Boskin, who was President George H.W. Bush's chief economic adviser

But notice that the Hoover Institution has no interest in our understanding how a single-payer health care system solves all the problems and reduces costs in line with those bringing superior health care systems to all those in the western world who've been laughing at us for years over our greed and miseducation about economics and math.

S

Beyond The Political Spectrum said...

I guess we still haven't gotten over the country's "Vietnam mindset." We have leaders who feel they have to destroy the country in order to save it. Sad that people cannot think beyond their narrow ideologies.

Shaw Kenawe said...

I can haz Senator Turtle in a soup tureen?