Archive for July 13, 2011

The Economic Ship is Sinking

I think that everybody agrees that this economic ship is fatally holed and is gonna sink.

The disagreement seems to be whether the Obama administration should just go ahead and continue overloading the economic ship with ballast while punching new holes below the waterline and telling the passengers not to worry, your government officials are experts that know what they are doing so you shouldn’t worry about it. Just because a ship has never been helped to float by drilling holes in the bottom and throwing the corporate jet builders overboard doesn’t mean it won’t work this time, either, so shaddup and eat your peas. By the way, pay no attention to the officers climbing into the life boats and rowing away from the ship. And Obama is going to have Tim Geithner hold that heavy social security trust fund luggage for Grandma while he throws helps her over the side.

Some Republicans and Democrats seem to think that they should try to delay the sinking as long as possible in order to give as many people as they can time to downsize to life boats and and hope that perhaps some in the business class rowboats, with the appropriate IRS tax whip incentives, can somehow row long enough and fast enough to reach land while towing the waterlogged economic ship along behind them.

A third option is to try to patch the holes and throw some government tax, regulatory, and energy ballast overboard and maybe, if they don’t hit any black swans, the ship will eventually limp into port where it can be repaired by voters who have hopefully learned some economic lessons. There ain’t no such thing as a healthy economic ship where half the passengers that don’t have to pay are complaining that it isn’t fair because the other half of the passengers that are paying their way still get to keep part of their money.


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