Nation About to Take a Bath
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.