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January 09, 2004

"Worst" in American History

The link to this page from Brian Leiter:

US Nobel Laureate Slams Bush Gov't as "Worst" in American History

From Nobel Prize winning economist George Akerlof:

The government is not really telling the truth to the American people. Past administrations from the time of Alexander Hamilton have on the average run responsible budgetary policies. What we have here is a form of looting. [!!!]

[...]

Future generations and even people in ten years are going to face massive public deficits and huge government debt. Then we have a choice. We can be like a very poor country with problems of threatening bankruptcy. Or we're going to have to cut back seriously on Medicare and Social Security. So the money that is going overwhelmingly to the wealthy is going to be paid by cutting services for the elderly. And people depend on those. It's only among the richest 40 percent that you begin to get households who have sizeable fractions of their own retirement income.

There's no longer any doubt that the Bush Gang is a giant disaster! Could things get any worse? Why isn't the entire country howling for his impeachment? -- Benj