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August 30, 2005
The New Republic: Washington we really do have a problem
They write, "Consider what happens if we allow the status quo to continue: Either (a) government deficits reach an intolerable size in the eyes of financial markets, forcing a sudden collapse of the system via spiraling interest rates; (b) the proportion of income that has to be taken from the young (i.e., people who enter the workforce in the years ahead) and given to the old (those who have retired) rises to a point at which the young have to use literally all of their after-tax savings to purchase government bonds and, thus, are unable to accumulate physical capital; or (c) the United States becomes so dependent on foreign capital to finance investment and consumption that the U.S. capital stock becomes foreign-owned and all income from capital flows abroad."
Unless they believe in the Leninist principle--"the worse, the better"--Democrats need to come up with a better strategy than just waiting for one of these things to happen to Republicans. Instead of being relentlessly negative, Democrats need to recognize the magnitude of the problem we face and come up with some credible solutions of their own, sooner rather than later.
Posted by Chris Schrimpf at August 30, 2005 11:30 AM
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Comments
To begin, Dems should go back and read their own "Hyde Park Declaration" which insists on Voluntary PRA's as part of any SS reform.
Posted by: Adam Cahn at August 30, 2005 12:02 PM
Adam:
Those were different Democrats. That was a different party back then, one that actually cared about solving problems and coming up with ideas.
They do neither of those now. They live off of being anti-everything and riling up hatred of the President. It's sad, and it's destroying opportunity for much needed reforms.
Posted by: Sunny Sidhu at August 30, 2005 05:57 PM
Well, back when they listened to the DLC, they won elections. Now, Howard Dean's shrill minority is leading them towards suicide.
Posted by: Adam Cahn at August 30, 2005 06:52 PM
Are you kidding me? If you all took your heads out of your partisan asses for a second you'd realize that Bush has increased non-defense discretionary spending dramatically (far more than Clinton ever did) including adding a new Medicaid prescription drug entitlement to a program in worse shape than even social security.
It's so sad how organizations like yours and Crock the Vote would rather be partisan cheerleaders than face facts.
Posted by: Noid at August 31, 2005 01:18 AM
Noid-
Check out our post- both parties are to blame
http://weblog.secureourfuture.org/archives/2005/08/both_partie_are.html#comments
Posted by: Chris at August 31, 2005 11:04 AM