Readers know I've long supported a "Grand Bargain" approach to solving our economic malaise. This means making everybody suffer . . . but only for a short time. While Estonia has been my favorite example, Eastern Europe in general has done a far better job of ripping off the scab from the global financial crisis five years ago.
They have cut entitlements. Yes, even some grandmothers have been put into the street, hopefully into the care of family, churches and charities. Yes, expensive medical treatments have been denied to the terminally ill, who died anyway. Yes, they have increased taxes, especially on the "rich." And, it has paid-off! Look at the sharp rebound in their economies:
As we continue to slog through our long, slow recovery, we should remember there is an alternative. Our economy is growing at an anemic pace, compared to Eastern Europe, and will continue to do so. We're waiting for the scab to just fall off naturally someday.
Democrats will wail about the poor grandmothers, forgetting about the unemployed who could have jobs during the economic recovery. Republicans will wail about the increased tax burden, forgetting about their increasing wealth during the economic recovery. The rest of us will just shake our heads in wonder . . . impatiently waiting for the economic recovery.
They have cut entitlements. Yes, even some grandmothers have been put into the street, hopefully into the care of family, churches and charities. Yes, expensive medical treatments have been denied to the terminally ill, who died anyway. Yes, they have increased taxes, especially on the "rich." And, it has paid-off! Look at the sharp rebound in their economies:
As we continue to slog through our long, slow recovery, we should remember there is an alternative. Our economy is growing at an anemic pace, compared to Eastern Europe, and will continue to do so. We're waiting for the scab to just fall off naturally someday.
Democrats will wail about the poor grandmothers, forgetting about the unemployed who could have jobs during the economic recovery. Republicans will wail about the increased tax burden, forgetting about their increasing wealth during the economic recovery. The rest of us will just shake our heads in wonder . . . impatiently waiting for the economic recovery.
