|Mort Zuckerman: America has no choice but to enter its own age of austerity |
| The American public gets it, even if successive US administrations have not. There are over 12m families who get it particularly well: they are those who owe more on their mortgage than their homes are worth. They know we have been running on empty for years, and that a new era of American austerity is the only way to put things right.|
No wonder this is being called the most predictable crisis in US history. For who could dispute, when our government must borrow $4.5bn a day just to keep going, that our national debt is now an existential threat? Wimpy, a character in the cartoon Popeye, got our attitude right: “I’ll gladly pay you Tuesday for a hamburger today”.
Thursday, July 14, 2011
Posted by Michele Kearney at 2:51 PM