The “President’s National Committee on Fiscal Responsibility and Reform” has issued its “draft report,” actually just a series of powerpoint-like slides in pdf format, with a few complete sentences here and there. Yves Smith [correction: These comments were guest-posted on Naked Capitalism but originate at The Daily Bail] has already posted comments, of which I fully endorse the last sentence, but I would like to expand a bit here on my own site.
Now, it would be too much to expect the President’s Commission to suggest anything that would seriously change the way the powers-that-be conduct their business. Continue reading Fiscal responsibility and reform