Home > Off Blog > Christie encourages government to “jump off a cliff…”

Christie encourages government to “jump off a cliff…”

Vodpod videos no longer available.

From Mish Shedlock’s blog:

Governor Chris Christie: There’s no time left. We have no room left to borrow. We have no room left to tax. So we merely have room left now, to do this. We are all reaching the edge of a cliff. And it reminds me a bit of that part of Butch Cassidy and the Sundance Kid where the had a seminal decision to make. So what did they do? They held hands and they jumped off the cliff.

We have to hold hands at every level of government, state county, municipal, school board. We have to hold hands and jump off the cliff.

By jumping off a cliff, Governor Christie is asking local governments to join him inflicting a severe austerity program to cut public employees, reduce affordable housing programs, and slash public services. As it stands now contracts with employees cannot be touched, bondholders must receive their taste, and cuts in programs funded by the federal government will cost more than they save.

Oops.

Not that he is wrong about the box government has painted itself in with years of economic growth ideology, but we do wonder how he manages to deal with the consequences – a massive collapse in demand.

Advertisements
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: