Monday, February 9, 2009

What Might Have Been

We are all going to wonder, for a very long time, what really might have happened if Clinton-era fiscal responsibility would have continued and paying down the debt was a matter of policy so that credit became more and more available (in responsible ways) as treasuries were permanently retired (that is, they were no longer rolled over, as they are now), and that money could have flowed freely into a vibrant economy.

Instead, Bush started an unnecessary war in Iraq and we lost the ground we'd gained. I hope my children are around to see what an era of extended debt retirement actually looks like.

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