Sunday, 3 March 2013

Back after a long absence...

...mostly to do with real-life being busy and also a large literary project that got in the way and demanded priority.

I read in the Catallaxy Files blog today that the Mayor of New York thinks there is no problem with infinite indebtedness.

It seems fair to argue (as does the original poster) that this is the thinking which drives the entire fiscal policy of the Obama administration. I don't think there's a year he's been in office in which he hasn't posted a trillion dollar deficit; I don't think there will ever be a year he's in power in which he doesn't post one. And for all that, there is nothing to show for it in concrete terms.

A similar problem is seen in Australia, in which former Prime Minister Kevin Rudd ranted (while still Opposition Leader) that "this [his Conservative predecessor's] reckless spending must stop", despite the fact that his predecessors had posted budget surplus after budget surplus, year after year. Mr Rudd and his successor, Ms Gillard, then went on to do the complete opposite - they have never posted a surplus, and I do not think they ever intended to. Now their support is falling to new lows, and people who formerly fought for the privilege of kissing their arses are now biting them. And as defeat looms and the cliff-face of irrelevance beckons, the journalistic Left is beginning to have brain detonations.

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