Patri's Journal: Current

This is Patri's current journal. It is kept on LiveJournal as patrissimo, but you are reading the archived copy on patrifriedman.com.


Its the economy, stupid (comment on this entry at LiveJournal)

Entry Date: 2004-07-25 17:07:00 Logged: 2004-07-25 17:10:30
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In the Washington Post, David Rothkopf points out the importance of economic policy over terrorism prevention:

Let's start with the biggest domestic economic problems. Almost any one of them is a greater threat to the economy than virtually any imaginable form of terrorism. There is the record-breaking budget deficit that is likely to amount to $5 trillion over the next decade. Then there's the burgeoning trade deficit. And the $72 trillion in unfunded future retirement and health care obligations to our own citizens. And a record low savings rate, which suggests that we will need even more help with retirement funding. And the hemorrhaging of manufacturing jobs and the cost of fixing our dysfunctional health care and energy systems. Every one of these is a gigantic problem on its own. Taken together, they represent a series of bombs placed at the foundations of our society, and they are capable of exploding in ways that would touch more Americans than anything even the most sophisticated terrorists could devise.

Fixing Social Security, dropping trade barriers, reducing the deficit by trimming pork, ending stupid subsidies - any of these things would be far simpler than preventing terrorism, and have drastically more positive impact on the country. Which is not to say that these things are politically easy - they all piss of an entrenched power structure (old people, domestic producer of good produced cheaper elsewhere, pork recipients, subisdy recipients). Its not clear that leaving these problems will destroy us, we are resilient. But the sad thing is that they are technically trivial to fix, and would have a big impact on the average citizen. Whereas "stopping terrorism" is difficult if not impossible, and terrorism has little negative impact on us.

But it'll never happen, because government action is all about political pandering and ass-kissing, not making citizens lives better.
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