Budget Compromise and the Return of the Austerity Cat

oL by: two_kittehs (Picture by: Deebrio)

Steve Rattner has a sad because the current budget compromise is not austere enough for him. Won’t anyone think of the children, he says.

But unless we come to grips with the fiscal issue, we will be inflicting a huge financial burden on our children.

I suppose the hypothetical children would be happy to inherit a sputtering economy with rampant inequality and high percentages of unemployment. Give it a rest, Rattner.  Austerity does not promote growth and what we need right now is for the economy to grow. A healthy growing economy will take care of the twin problems of unemployment and deficit. Of course this may cause the gap between the 1% and the rest of us to get smaller, may be that is what Rattner and his buddies are most afraid of.

As for the budget compromise, it is too austere for my liking but it is definitely better than the government shutdown and the debt default battles of the recent past.