Tuesday, August 02, 2011

The Debt Crisis

I'm a liberal in almost every way, but I don't really follow politics. In my opinion, it's just a bunch of posturing from people who are more concerned with making money to get reelected than they are with passing good laws. So I haven't followed the debt ceiling "crisis." Yes, it's important, but I just get pissed every time I read about it.

Now, as the post-mortems get written about the "compromise," I have been reading all my liberal media like Slate and the New York Times, and I get angry. "This compromise has ruined the economy. We're doomed," they all seem to say. When I read this, I get pissed again, this time at the Republicans.

But when I really think about it, what do I know about macroeconomics? I don't know enough to make a judgment about whether this is a good thing or a bad thing. I have FEELINGS about how I think this will turn out, yes, and I have SUSPICIONS that it won't turn out well, but I don't know a damn thing about this really, nor does anyone else.

If you say you do, you're full of it. Unless you have studied economics, then read the same amount of propaganda from EACH SIDE of the aisle, you don't know enough to make a sound judgment. This assertion is not a challenge to people that I love who feel passionately about this issue (and I do love people on BOTH sides of this issue). Rather, this is a call for calm.

The sky is not falling. Or it is. Nobody knows for sure.

1 comment:

Erik Moeller said...

That is exactly why I fall so close to the middle of the political spectrum! I see merits to both sides of the argument, but in reality I can only guess at the accuracy of the statements made.

I also realize that even most economic geniuses can't totally wrap their minds around all of the variables that play out in macroeconomics. Most of the time, you need hindsight to accurately predict specific results obtained from tweaking so many economic variables.