Monday, November 13, 2006
Will the GOP blame this on Clinton, too?
In the long term, I think debt management will be a major issue. While Bush is unlikely to allow a default on our debt to his Chinese and Saudi friends, he has shown a worrisome willingness to default on Social Security commitments.
That wouldn't look good.
The real problem is that the wealthy people, who should be our national leaders, have defaulted on their responsibilities. Bob Rubin gave a brilliant speech at Brookings, in which he pointed to growing inequality as the central problem of the American economy.
American families work harder and harder, but get nowhere. They are in effect being trained to give up, to become apathetic, to turn on one another, to let their communities and families decay.
This is the great failure of the overclass. They do not see that they have a duty arising from their privileges. Only a rare man, like Rubin or Clinton, sees and understands that the long-term consequence of this is the destruction of the economic prosperity of all.
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