tag:blogger.com,1999:blog-22301740.post3214946128072243965..comments2024-03-26T09:49:07.212-07:00Comments on The Scratching Post: Pop Quiz AnswerK T Cathttp://www.blogger.com/profile/10259428595745509790noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-22301740.post-14857940659082149322009-11-18T07:13:49.108-08:002009-11-18T07:13:49.108-08:00What a fantastic title! I'll have to see if ou...What a fantastic title! I'll have to see if our library has it. <br /><br />There is an issue I think you're overlooking. Part of the problem is systematic. Part of what keeps unemployment under 10% is the fact that we've developed into a high consumption society. As we cut back on over-consumption, there is going to be a significant disruption to the job market. I think of Britain in the 70's. From a politician's perspective letting this happen is suicide. So its really not in their interest to rein in consumption. Frankly we have too many hands out there for a low consumption society. I have no idea how to solve this, but that is how I see the dilemma.Kelly the little black doghttps://www.blogger.com/profile/15056007606676004685noreply@blogger.comtag:blogger.com,1999:blog-22301740.post-58694193261607853572009-11-18T05:46:38.136-08:002009-11-18T05:46:38.136-08:00I didn't understand the issue as a societal on...I didn't understand the issue as a societal one until I read Robert Samuelson's <a href="http://www.amazon.com/Good-Life-Its-Discontents-Entitlement/dp/0679781528/ref=sr_1_1?ie=UTF8&s=books&qid=1258551773&sr=8-1" rel="nofollow">The Good Life and Its Discontents: The American Dream in the Age of Entitlement</a>. Samuelson suggests that there has been a cultural shift away from earning what you get and shows gallons and gallons of data to prove it. That perspective gives you a different way to look at things as you watch Republicans wreck the place with mountains of debt because "everyone should own their own home" and Democrats simply loot the children of the nation like ravening parasites to pay for handouts today.<br /><br />Again, while the size of the debt is troubling, of far greater import is where it's going. The process of impoverishing our kids won't be reversed without a decrease in our own standards of living.K T Cathttps://www.blogger.com/profile/10259428595745509790noreply@blogger.comtag:blogger.com,1999:blog-22301740.post-65561973078763147722009-11-17T12:41:18.983-08:002009-11-17T12:41:18.983-08:00Oh, probably a pretty darned big problem. If only ...Oh, probably a pretty darned big problem. If only because the people responsible for setting the budget are likely to delude themselves into thinking that the red line is the one that matters, and ignoring the black line.<br /><br />Please note - I was just providing the graph you asked to see. I never claimed that there was no problem.tim eiselehttp://somethingscrawlinginmyhair.comnoreply@blogger.comtag:blogger.com,1999:blog-22301740.post-61285282949319738162009-11-17T12:35:00.109-08:002009-11-17T12:35:00.109-08:00So Tim, the difference between the public and gros...So Tim, the difference between the public and gross debit looks to be approaching a factor of two. How much of a problem is that?Kelly the little black doghttps://www.blogger.com/profile/15056007606676004685noreply@blogger.comtag:blogger.com,1999:blog-22301740.post-66576780516396764812009-11-17T12:32:34.050-08:002009-11-17T12:32:34.050-08:00Ya, I've seen that graphic before and its terr...Ya, I've seen that graphic before and its terrifying. It sort of looks like California's budget, and we know how well that's working.Kelly the little black doghttps://www.blogger.com/profile/15056007606676004685noreply@blogger.comtag:blogger.com,1999:blog-22301740.post-73054658927351683472009-11-17T12:30:26.721-08:002009-11-17T12:30:26.721-08:00Are you suggesting that when you're on fire, y...Are you suggesting that when you're on fire, you shouldn't run faster?Kelly the little black doghttps://www.blogger.com/profile/15056007606676004685noreply@blogger.comtag:blogger.com,1999:blog-22301740.post-80894325008112545662009-11-17T11:36:39.724-08:002009-11-17T11:36:39.724-08:00I would argue that of far greater importance is th...I would argue that of far greater importance is <a href="http://ktcatspost.blogspot.com/2009/10/answer-to-yesterdays-quiz-question.html" rel="nofollow">the content of the budget.</a> There's no indication that any of the transfer payments that make up the lion's share of the deficit will be cut in the near future. Quite to the contrary, we're rushing as fast as we can to increase them.K T Cathttps://www.blogger.com/profile/10259428595745509790noreply@blogger.comtag:blogger.com,1999:blog-22301740.post-36103348182951245692009-11-17T09:38:01.597-08:002009-11-17T09:38:01.597-08:00True, it doesn't look nearly as bad as a perce...<a href="http://en.wikipedia.org/wiki/US_national_debt" rel="nofollow">True, it doesn't look nearly as bad as a percent of GDP</a>.<br /><br />It would still be nice to do something about it well before it gets close to WWII levels, thought.tim eiselehttp://somethingscrawlinginmyhair.comnoreply@blogger.comtag:blogger.com,1999:blog-22301740.post-35602107331400433672009-11-17T09:27:19.758-08:002009-11-17T09:27:19.758-08:00It would be useful to see this data normalized by ...It would be useful to see this data normalized by US population and/or as a percentage of GDP. I suspect it wouldn't look quite as startling.Kelly the little black doghttps://www.blogger.com/profile/15056007606676004685noreply@blogger.com