Don’t Forget the Fiscal Crisis

Radley Balko at – U.S. Government Veers Away From Capitalism – Opinion (proof you can write for an organization and not completely agree with them)

Neither Barack Obama, nor John McCain, nor either party’s leadership in Congress has proposed a reasonable plan to deal with the government’s unfunded Social Security and Medicare liabilities. In fact, all have proposed expensive new government programs that can’t possibly be funded over the long term. All seem both oblivious to the federal government’s impending financial peril and intent on making it worse.

Perversely, all are then simultaneously demanding that they be given greater control over the private sector — because, they gallingly explain, corporations have shown that they can’t be left alone to behave in a manner that’s fiscally responsible.

May you live in interesting times certainly seems to apply to us today. It is important to remember that neither side speaks honestly about their case. The only person to blame, of course, is ourselves, because we don’t seem to require it of them. There’s probably something to be said that in systems with little feedback, performance degrades. Representative democracy, having more feedback than other systems seems to have the least bad performance.


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