Sunday, January 27, 2013

Is This the End for the Deficit Drones?

By James K. Galbraith

In wars, sometimes there comes a moment when the tide turns. The collapse of Ludendorff's offensive in 1918 presaged the Armistice; failure in the Ardennes meant the end for Germany in 1944.

Today we have two drone wars in a similar state. One is mainly in Pakistan. Built on a gee-whiz technology that can't do what it promised, this war has claimed too many victims for too little effect. It is a diplomatic disaster and its days are numbered, almost surely, for that reason.

The other drone war is in Washington. The drones are in groups with names like the Committee for a Responsible Federal Budget and Campaign to Fix the Debt.

Read the rest here.

No comments:

Post a Comment

Functional Finance, MMT and Blanchard's Presidential Address

So Olivier Blanchard gave the AEA presidential address at the Atlanta meetings earlier this year. If you missed it you can watch it here . ...