All this screaming about an economic collapse or “bringing back the recession” (when we all know it is still there under a couple of camouflage bubbles that will soon bust) is probably overblown in the short term. But since Liberals are freaking out about how the Republicans are allegedly threatening the entire economy, and are somehow guilty of personal cruelty in the case of every furloughed federal employee, I’d like to know the basis of their moral outrage.
I know Bernie Madoff has been compared to US government policies and programs before (i.e. Social Security), but I want to go in a different direction. Madoff was caught in his ponzi scheme because he revealed it to his sons and they informed the authorities. At that point all Madoff’s duped clients lost their money.
But what if the sons hadn’t told anyone? What if they had kept quiet and the scheme had lasted another twenty years? The present “investors” might have gotten their money out. The increased number of later clients would have lost even more money, but the present clients might have gained their savings.
So why hasn’t anyone condemned Madoff’s sons for going to the authorities? Why hasn’t anyone blamed them for not keeping it secret?
“Progressives” are screaming about federal employees that aren’t being paid right now. I never heard anything like this amount of groaning from them about all the people who have lost their jobs in the Obama economy. I don’t know why federal employees deserve our special sympathy more than anyone else effected by the economy.
Facts are facts. We are in a ponzi scheme. Our government has trillions of dollars of debts it is never going to pay. Our government has tens or hundreds of trillions of dollars in future financial obligations it will never meet. Federal employees on average make twice what their counterparts make in the private sector. Sooner or later the vast majority of them are going to have to stop getting their paychecks from tax-payers.
This is just reality. We all know this is true by simply listening to Wall Street hysteria about the debt ceiling. They are telling us that we must borrow money in order to pay interest on borrowed money. They are telling us that this is what we must do to maintain a sound economy.
That is the definition of insanity.
We need to stop messing around with budget theater moves like the non-cuts of sequestration, or using government debt to prop up the healthcare bubble (which is exactly what Obamacare is designed to do). Not raising the debt ceiling would immediately impose a spending reduction in order to meet our debt obligations. That won’t actually happen because we will raise the ceiling, sadly. But it is the only first step we can make to rescue the world economy. We need to freeze spending levels and then figure out how to reduce them or sell assets to get rid of the national debt.
Could this be done rationally and relatively gently? Probably. But a majority in the Senate along with the President want to continue the ponzi fantasy. All we have are a significant number in Congress who aren’t controlled by Wall $treet.
People whine about a few furloughed employees. They are living in a delusion about the pain they are bringing on themselves and the people whom they think they care about.
So, back to the question: Do you believe it was morally reprehensible that Madoff’s sons exposed his ponzi scheme? Should they have tried to keep it going?