Comments for The NYT Doesn't Know About the UK's Housing Bubble at http://www.cepr.net , comment 1 to 1 out of 1 comments http://www.cepr.net Tue, 21 May 2013 16:20:05 +0100 FeedCreator 1.7.3 http://www.cepr.net/index.php/blogs/beat-the-press/the-nyt-doesnt-know-about-the-uks-housing-bubble/#comment-477 The entire media seems to be on the same train, i.e., insisting that profligate spending is the main economic problem of any country that offers its citizens any social safety net at all, and the only way to handle the deficits arising from current economic troubles is to cut social spending to the bone. England spends too much on national health and "the dole;" Europe spends too much for their health care systems, college education and child care benefits and gives workers too much vacation, and Greece is failing because their workers retire too early. Balderdash. But plans are already well underway to underfund Medicare and cut Social Security benefits in this country, and the deficit hawks would pare down (or eliminate) even more social services if this country offered them. The citizens of this country need their own Fed - an entity that could print money and hand it to us for almost nothing, like the Federal Reserve does for banks. We could use some of the money to hire ourselves accountants that would lie to the authorities, telling them we were solvent, while we took the rest of the money to the craps tables at the casinos. - Queen of Sheba Thu, 06 May 2010 11:34:27 +0100