> At a forum the WSJ ran on WITBD. Facing the prospect of
> the biggest recession in 25 years, their answer is: cut
> spending (because all this bailout stuff made the deficit
> too big
Ex-lax for fiscal constipation (in MaxSpeak).
Galbraith sums it up neatly. They couldn't see the real crisis coming, and they only see the phantom one because their balance sheets have only liabilities and no assets. Besides, cutting people from government rolls because of rising health care costs only leaves them with fewer resources to face--surprise!--rising health care costs.
Shane