Monday, October 14, 2013
WASHINGTON -- When the history is written, I suspect the brutal budget battle transfixing the nation will be seen as much more than a spectacular partisan showdown. Careful historians will, I think, cast it as a symbolic turning point for post-World War II institutions -- mainly the welfare state and the consumer credit complex -- that depended on strong economic growth that has now, sadly, gone missing. The story behind the story is that prolonged slow growth threatens historic changes to our political and social order.
For "historic changes" read something like "utter undoing" or substitute your favorite profanity.