I'm afraid that, to the extent that this has to do with democracy, much of the problem is the character and disposition of the electorate. The voters ought to be scandalized at the prospect of handing on that kind of debt to their children and grandchildren; most don't really seem to be especially bothered by that. (Of course there is outrage about the unevenness of bailouts for those alive today -- hence the rallying cry, "Where's my bailout?")
Of course we live in a society which is disinterested in children at best, and actively hostile to them at worst. (This is reflected in birth rates.) Without concern for children, most people have little practical reason to care about the future economy, or the environment, or really anything else future -- they are simply running out the clock until the end comes.
We are witnessing the irrationality of the suicidally depressed on a civilizational scale. (Which, incidentally, has a great deal to do with Obama's appeal.)
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Date: 2009-03-04 03:19 pm (UTC)Of course we live in a society which is disinterested in children at best, and actively hostile to them at worst. (This is reflected in birth rates.) Without concern for children, most people have little practical reason to care about the future economy, or the environment, or really anything else future -- they are simply running out the clock until the end comes.
We are witnessing the irrationality of the suicidally depressed on a civilizational scale. (Which, incidentally, has a great deal to do with Obama's appeal.)