The Professor does put too fine point on it. The austerity situation in this country is "an utter disaster."
In a recent post, Paul Krugman identifies what Republican-induced (and Obama-enabled) austerity is doing to the United States — we're slashing investment to pander to electoral freaks on the right (and the Billionaires who love them).
(Sorry, was that too direct? Sometimes I forget myself. By "electoral freaks" I naturally mean fine and worthy citizens of the opposite but reasonable persuasion; people who spend more time at the mall than the airport; people who rarely get porn-scanned. Them.)
Here's Krugman's way of putting it (my emphasis):
[W]e’re sacrificing the future as well as the present. Oh, and the cuts that aren’t falling on investment in physical capital are largely falling on human capital, that is, education."What an utter disaster" indeed.
It’s hard to overstate just how wrong all this is. We have a situation in which resources are sitting idle looking for uses — massive unemployment of workers, especially construction workers, capital so bereft of good investment opportunities that it’s available to the federal government at negative real interest rates. ... What an utter disaster.
Think back to all of last year, when Mr. Bipartisan threw rightwing-framing gold at the Republicans so they (and their racist base) would like him. Mr. Multi-dimensional Mindset. Mr. Chill, I Got This.
Mr. Reap What You Sow, say I.
Not in 2012, of course — he's a shoo-in for that one. No, the reapage will come later. Obama will spend the rest of his life repairing his legacy; which will only stand scrutiny inside the moat around the walls that surround the gated mansions he's due to be fêted in, while the wind howls outside everywhere else.
The man has ruined us (if The Professor is to be believed). We now have a vastly diminished national investment, and without investment, a vastly diminished future.
And yet it's still arguable that the next Republican president could be worse. After all, that one might try never to leave office. Then where would we be?
What a revolting development, the radicalized Riley might say. The radicalized Krugman agrees.