In a withering critique of his fellow Republicans, former Federal Reserve Chairman Alan Greenspan says in his memoir that the party to which he has belonged all his life deserved to lose power last year for forsaking its small-government principles.[...]
"Rising income inequality could undo "the cultural ties that bind our society" and even lead to "large-scale violence." The remedy, he says, is not higher taxes on the rich but improved education, which can be helped by paying math teachers more.
By paying math teachers? Not others?
Butthead himself parroted that idea of better education. We'll help society's dregs by educating them. For what? I want to know.
PhD degrees now get you the chance to compete for the jobs that Masters candidates are qualified for. Outsourcing even white collar work is sweeping the country of jobs. Well, at least maybe better educated poor people will stand a better chance of getting a job in some other country, but I don't think that's going to do anything about whatever ties there might be left binding our society. My bet, at this stage, would have to be on the large-scale violence.
Mr. Greenspan, who calls himself a "lifelong libertarian Republican," writes that he advised the White House to veto some bills to curb "out-of-control" spending while the Republicans controlled Congress. He says President Bush's failure to do so "was a major mistake." Republicans in Congress, he writes, "swapped principle for power. They ended up with neither. They deserved to lose."[...]
"Little value was placed on rigorous economic policy debate or the weighing of long-term consequences," he writes.
When you're paving the way to Armageddon, long-term consequences are irrelevant.
Old Greenie's a little cranky in his old age, eh?
....but hey, do what you want....you will anyway.
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