Wednesday, October 16, 2013
Post Script
I got a painful lesson today in how much counter cyclical is counter intuitive. I had expressed my worries about the shutdown and debt ceiling to someone who never paid much attention to news and current events. Curious, he decided to look into it. He came away just about ready to join the Tea Party, terrified of all the borrowing going on, and certain that we had to stop it, no matter what. Sigh!
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Much that the tea party advocates would be reasonable in ones own personal finances. Save more, spend less. Don't buy what you can't afford. Don't interfere in other people's business. Etc. I think someone who was not involved in a bigger picture of the duties of government would recognize these goals as virtuous - which they are in a small scale. But if we believe as I do that there are certain tasks best done by government, because no one else wants them or is willing to take the price hit needed to bring them to everyone, then Tea Party frugality does not make sense on a national level.
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