Do We Bring Hard Economic Times Upon Ourselves?

Discussion in 'Economy' started by Adam's Apple, Apr 5, 2008.

  1. Adam's Apple
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    Adam's Apple Senior Member

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    Economic Crisis Is of Our Own Making
    By Rod Dreher, Dallas Morning News
    April 3, 2008

    For nearly a generation, Americans have had the luxury to organize their political fights around cultural issues like abortion and gay rights because economics haven't been central to either politics or culture. And we have financed the illusion of sustainable progress through massive accumulation of debt, both personal and governmental. Prosperity masked decline; optimism occluded realism. As historian John Lukacs writes of the boom years in the current Chronicles, "The middle class habits (and virtues) of permanence, of saving, of passing their assets — and values — on to their children disappeared."

    That now must change. The cost of our grand national experiment in living beyond our means is now coming due, and not just in the form of the housing crash. If the country indeed goes into a long, deep recession, forcing austerity and worse on the general public, the full social cost of casting aside traditional communal bonds and moral values — the beliefs that enabled people to thrive during hard times — will be painfully manifest. The psychological shock to the body politic will be sharp.

    The credit crisis is not occurring in a vacuum. Consider:

    for full article:
    http://www.jewishworldreview.com/0408/dreher.php3
     
  2. RetiredGySgt
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    RetiredGySgt Platinum Member

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    And which party "cast aside" those moral bonds? Which party for 40 years ran up deficit after deficit and raped the Social Security fund and the Road repair fund?
     
  3. Paulie
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    Paulie Platinum Member

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    It's just like you to blame it all on the OTHER side.
     
  4. Toro
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    Toro Diamond Member

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    The Republicans and their bizarre notions that tax cuts pay for themselves.
     
  5. Toro
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    Toro Diamond Member

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    That was a good article, and he's probably right.

    BTW, for those who look through a political spectrum for everything, this is a national problem brought about by the people, not the parties. The parties are merely reflecting what the voters wanted. This is a problem the American people have to face first.

    This isn't a Republican v Democrat issue.
     
  6. BaronVonBigmeat
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    BaronVonBigmeat Senior Member

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    The democrats squandered money for 40 years, and then the republicans got into power on the smaller government issue in 1994. By 1999, they were outspending the democrats and have done so since. So yes, it's both parties.
     
  7. M14 Shooter
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    M14 Shooter The Light of Truth

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    When were the Republicans in charge foe 40 years?
     
  8. Dr Grump
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    Dr Grump Gold Member

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    Ronald Raygun wasn't a president? Neither were the Bushes, Nixon or Ford? I must have been living in a time warp. And before you say congress was Dem controlled, your president has a lot of power and the the power of veto. So do try and keep up...
     
  9. Annie
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    Annie Diamond Member

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    I believe he said the democrats had power for 40 years. :shrug:
     
  10. Dr Grump
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    Dr Grump Gold Member

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    When?
     

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