Are You a Fiscal Conservative? And Coral Gables Government?

Not enough has been done to protect us from the “too big to fail banks” doing it again.  It won’t be the same way but banks are good at inventing risk instruments that favor their balance sheet.

This is somewhat similar to the city of Coral Gables where decisions of the city commission did little to create a well run, efficient, honest and transparent government that protected taxpayers rather than the special interest groups allied with the mayor and commissioners, including the powerful labor unions.   Taxpayers need to confront the power of the city commission who keeping raising taxes and cow-towing to the unions.

Following President Obama’s State of the Union address, there is a great deal of discussion about whether we might now be edging our way towards fiscal responsibility.

Unfortunately, most of our political elite – both left and right – is still living in a land of illusions.  They cannot even seriously discuss what would be required to bring our true fiscal position under control – remember that most of the recent damage to our collective balance sheet was done by big banks blowing themselves up.  No one who refuses to confront the power of those banks can be taken seriously as a fiscal conservative.

via There Are Still No Fiscal Conservatives In The United States « The Baseline Scenario.

About Stephen E. McGaughey
International consultant in economic development programs and projects

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