Saturday, 25 September 2010

Banana republic - here comes the US of A

Read this column and be scared. Very scared.
Downhill with the G.O.P.
Nobel prize winning economist Paul Krugman forecasts a frightening future as Republicans get closer to taking a grip on the government of the United States.
 ... the party’s main concern seems to be the war on arithmetic. And this party has a better than even chance of retaking at least one house of Congress this November.
Banana republic, here we come.
On Thursday, House Republicans released their “Pledge to America,” supposedly outlining their policy agenda. In essence, what they say is, “Deficits are a terrible thing. Let’s make them much bigger.” The document repeatedly condemns federal debt — 16 times, by my count. But the main substantive policy proposal is to make the Bush tax cuts permanent, which independent estimates say would add about $3.7 trillion to the debt over the next decade — about $700 billion more than the Obama administration’s tax proposals.
The big fear, argues Krugman, is that the Republicans will not actually gain enough control of the Congress to implement their secret aim of dismantling social security. The clear and present danger is, "is, rather, that Republicans will gain just enough power to make the country ungovernable, unable to address its fiscal problems or anything else in a serious way. As I said, banana republic, here we come."
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