Oh, what fools we mortals be
Once upon a time, conservatives insisted on prudent government, one that always maintained a surplus. Debt was anathema to them.
Fast forward to today’s more ideologically oriented conservatives and we find that national debt suits them just fine. Anathema to them are social programs that they see as empowering governments to take their hard earned money and giving it to poorly motivated losers.
And this attitude has just been reinforced by the 2008 collapse of the financial market. They must have been so surprised to find that the taxpayers would come to their rescue by backing them with large bailouts that put them back on their feet, even though that put the taxpayers deeply in debt–the very kind of situation that would demand cuts in social services and thus squeeze people into working for lower wages.!
Now that the banks have become aware that they have this extra layer of insurance–(we taxpayers now cover them when they make really, really stupid mistakes). Wow, can it get any better than this? So don’t expect national debts to go away any time soon, my friends :):)
Nor be surprised by our governments cries of alarm over the Euro crises. they wouldn’t have it any other way as it reminds us how awful the economic crises is so we will willingly tighten our belts even more–its not just the Greeks who are caught in this trap.:) And by focusing our attention on that, they seem to have successfully made us forget who started this tragedy in the first place–the rich bankers:)) “Oh, what fool we mortals be”