I do what I want. from motherpie's flickr.
Clinton spent his last months giving out pardons to felons and friends, but in the last few months of the Bush Administration, executive branchers spent trillions and trillions of dollars setting up shady loan deals with the people that ruined the US economy. The real upshot from these deals will be hemming in the incoming administration financially with a near criminal excess of unaccounted-for and unauthorized loan programs.
At this point, the Bush folks see the writing on the wall and want to do their best to restrain the new government by running up deficits then demanding budget ballancing in the next Congress. The military plays the same game with the defense budget, bloating requests for new spending to require cuts and then pigeonhole Obama as someone weak on defense. With Bush functionally out of office, and all eyes on the incoming administration, no doubt these problems will look like an Obama problem, which will be the first step to a planned GOP resurgence in 2010.
just do it. from dmuth's flickr.
Hm, according to the New York Times, the latest ‘crisis’ for our economy will be consumer spending, where people stop spending money they never had on shit they didn’t need. Now, I’m no expert on anything, but why is it that economists act like people have some sort of political-moral obligation to spend money on consumer goods? Seriously.
I know we call our contemporary lifestyle a ‘consumer culture,’ but that’s probably a lie – our economy doesn’t actually benefit consumers, nor does it particularly care about them, as long as they spend money. Spending doesn’t benefit them because the point of purchasing is creating a profit for the folks who control the stores and machines that create the things bought.
Not spending is a perfectly rational, reasonable decision – it’s the realization that your interests don’t coincide with the people producing things, because they are trying to profit off of you. An economy that relies slavishly on continual spending is bound to fail, morally and politically.