Wednesday, 13 April 2011

scylla & charybdis

 Negotiations of how US fiscal policy amid the drone of political dishonesty from both parties and amateur and professional analysis is coursing through some dire straits and neither route presents a very positive outlook: either the US risks its standing as a beacon of creditworthiness and cheap, liberal monetary charisma by restraining spending and letting darling-debt lapse temporarily or the US steers to rarify its currency even further by printing more, risking hyper-inflation that could take decades to recover from, if ever. Restraint--done honestly, does not mean dismantling of all social and civic programs that government provides but rather closing the disparity in taxation and enforcement of taxation, corporate welfare and exodus of labour.

Libraries, medical and scientific research, consumer protection, parks and recreation--as well as public assistance and protection--are all potential good things that should not be whittled to meaninglessness for the sake of the profits and portfolios of a few who apparently need not stoop to public amenities. Truthful sacrifices and compromise must be wielded by all sides, and there should be enough collective stamina to face the realities that could come with a temporary default, which is still preferable to financing an endless downward spiral.