The Seven Deadly Deficits . . . by Joseph E. Stiglitz . . . Mother Jones

[OneBlueSky]

NEWS: What the Bush years really cost us, and how President Obama can get the economy back on track.

http://www.motherjones.com/news/feature/2008/11/the-seven-deadly-deficits.html

When president George W. Bush assumed office, most of those disgruntled about the stolen election contented themselves with this thought: Given our system of checks and balances, given the gridlock in Washington, how much damage could be done? Now we know: far more than the worst pessimists could have imagined. From the war in Iraq to the collapse of the credit markets, the financial losses are difficult to fathom. And behind those losses lie even greater missed opportunities.

(snip)

As a road map for where to begin, consider the seven major shortfalls the Bush administration leaves behind. (I'll just list them)

- the values deficit

- the climate deficit

- the equality deficit

- the accountability deficit

- the trade deficit

- the budget deficit

- the investment deficit

(snip)

The laws of nature and the laws of economics are unforgiving. We can abuse our environment, but only for a while. We can spend beyond our means, but only for a while. We can free ride on the investments made in the past, but only for a while. Even the richest country in the world ignores the laws of nature and the laws of economics at its peril.

- much more . . .

http://www.motherjones.com/news/feature/2008/11/the-seven-deadly-deficits.html