07/20/10 Alexandria, Virginia — Faced with crisis, the White House and Congress turned to fiscal stimulus that’s not only itself unsustainable, but that’s also unable to provide a firm foundation for lasting recovery.
Sooner or later, the US will have to pay the piper in the form of reduced government services, some more needed than others, and substantially higher taxes for households and businesses. This is one trillion-plus-dollar beast that could stand to benefit from a leak.
This cartoon came to our attention from a Financial Times opinion piece on how today’s Keynesians have learned nothing.
Rocky Vega
Rocky Vega is publisher of The Daily Reckoning. Previously, he was founding publisher of UrbanTurf and RFID Update, which he operated from Brazil, Chile, and Puerto Rico, and associate publisher of FierceFinance. He specialized in direct marketing at MBI, facilitated MIT Sloan School of Management programs, and has been featured on CBS. Vega graduated with honors from Harvard University, where he was on the board of Let’s Go Publications and directed business programs involving McKinsey, Goldman Sachs, and Harvard Business School faculty. He is also enrolled at the Stockholm School of Economics.
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