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Firedoglake – Catfood Delirium: US Pretends It’s Not Repeating Europe’s Mistakes

From Firedoglake:

Catfood Delirium: US Pretends It’s Not Repeating Europe’s Mistakes

By: Scarecrow Wednesday December 1, 2010 9:22 am

My dead-tree New York Times aptly depicts the mass economic insanity now gripping the US and Europe. There are several related articles, none referring to the others, but they’re all part of the same story: Governments are on their knees from bailing out insolvent banks and rescuing their economies after the financial collapse, but further crippling themselves by pretending that punishing citizens via austerity will keep their economies from tanking further.

On the Times front page, top-right, we read about America’s hysteria over federal deficits. The article frets over whether Obama’s failed Deficit (aka “let them eat Catfood”) Commission can get even a majority, let alone the required 14 of 18 votes, to endorse measures already widely panned, partly because Simpson-Bowles merely wave their hands on health care costs that are the principal driver of structural deficit. Even worse, in the aggregate their proposals shift more wealth from the middle class and elderly to the richest 10 percent of Americans, while restricting the government’s ability to right the inequality. It doesn’t occur to the Times to hope enough members will have the courage and wisdom to just say NO!

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  1. December 1, 2010 at 4:42 pm

    Two points. I compared the mess in Europe post-austerity policies to what the U.S. will be experiencing if the Tea Party gets its way.
    And blaming Obama for this? Well, that makes no sense whatsoever.

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