The other day I came across a piece in Bloomberg by an Economist named Kathleen Camilli entitled: "Bush's New Deal Needs Economic Literacy." I have been feeling down about
it ever since.
Camilli loves Bush's bold new ideas, including social security etc, but she says he's going to have to reeducate the public in order to sell it.
Here's how she describes bush's new deal:
Bush's most ambitious project is the redesign of social welfare programs that have been part of U.S. society since their inception in the 1930s and their expansion in the 1960s... . Altering those programs involves changing society's thinking about the responsibilities of the individual and the government.
more specifically, here's the new deal:
The era of redistribution of wealth, largely created in the 1960s, will be behind us. In its place will be a new system that promotes responsibility for one's self -- getting a good education, finding a good job and then knowing what to do with earned income.
According to Camilli, this new deal is mandated by our "dynamic free market economy":
There is little job security in a dynamic, free-market economy. The days of lifetime employment with one employer are gone, replaced by mobility. The average person holds five jobs and three careers in a lifetime. The only way to obtain financial security, and thus income security, is through financial education.
Okay, let's review. Your employer owes you nothing, and the fact that you will be chewed up and spit out by the big capitalist machine several times in your lifetime is just the way it goes.
As for your government, they are holding you responsible for getting a good job and a good education, but they might be willing to offer you some investment tips along the way.
what's wrong with this picture?
