Selling high interest rates to those who saved and want to retire is easy.
Selling high interest rates to the hucksters of the NAR, that’s the problem. The NAR should be indicted for fraud, but that’s another issue.
“Austerity” is a word thrown around quite a bit. I don’t think people know what it means.
Cutting Big Bird and PBS funding isn’t “austerity.”
On “austerity” given that the media is portraying Spain's approach as austerity I'd say austerity hasn't been tried anywhere. Clearly, with real life real-time examples from both Europe and Japan we know that “not austerity” doesn't work.
I simply don't see a politically palatable way to introduce real austerity. Can you cut $400 billion from fiscal year 2012-2013 and get it to pass while holding your majorities? It will take two years to prove you're correct, but the pain is instant.
We know we're correct, but look at the votes in Congress to pass it. How can it be done?