07/11/11 Seville, Spain — Austerity measures provide the obvious economic solution for overly-indebted nations in Europe — like Greece, Portugal, and your editor’s present location, Spain. Yet, for some reason, the basic concept of reduced government spending remains a mostly foreign concept to US political dealmakers.
If austerity seems farfetched, it becomes even more so when coupled with the basic idea of upping taxes in order to pay off the nation’s debts.
The fact that the “tax increase” character below looks so dopey — and the should-be-obvious solution looks so “overboard” — probably is to show the public’s preference for fiscal Band-Aids over real solutions. Sometimes a correct medicine is hardest to swallow.
See the cartoon below, which came to our attention via a post on The Mess That Greenspan Made, on rocking the deficit-talks boat.
Rocky Vega
Rocky Vega is publisher of Agora Financial International, where he advances the growth of Agora Financial publishing enterprises outside of the US. Previously, he was publisher of The Daily Reckoning, and founding publisher of both UrbanTurf and RFID Update -- which he ran from Brazil, Chile, and Puerto Rico -- as well as associate publisher of FierceFinance. Rocky has an honors MS from the Stockholm School of Economics and an honors BA from Harvard University, where he served on the board of directors for Let’s Go Publications, Harvard Student Agencies, and The Harvard Advocate.
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