Nice overview of how things stand vis. the “fiscal cliff.” The Puritanism that surrounds how most people talk about debt–esp. government debt–really irritates and shows the lasting influence of Christian dogmatism on our sociocultural situation. Sometimes I cannot tell if a person who rants about the US federal deficit is talking about the Maya Apocalypse, the Book of Revelations, or macroeconomics.
At times like these, a good dose of Nietzsche could really make a difference in how we think about debt.
Macroeconomics is like the weather. Sometimes the weather is nice and sometimes there is a mighty hurricane. It just is. What we all need to do is adjust to the reality as it is, not pretend the weather is as we think it ought to be.
Read the entire op/ed @ There is no fiscal crisis. And macroeconomics is not a morality play..