Friday, February 1, 2008

Shared Sacrifice

"Thousands of investment bankers are losing their jobs, and year-end bonuses for many on Wall Street were disappointing. We feel your pain. But that's no reason to stop spending. Stagnant wages haven't stopped us middle-class Americans from going to the mall and eating at Sizzler. (The Census Bureau tells me real household median income in 2006 was actually 2.2 percent lower than it was in 1999). ... We regard living beyond our means as a patriotic duty", Daniel Gross at Newsweek, 28 January 2008.

Imagine, Bush and Paulson are pushing a $146 billion "stimulus" package.


Tom Stone said...

Bush and paulson as "fluffers",the stomach reels.Well GW was a cheerleader,but how about paulson?

Independent Accountant said...

Paulson is pushing the stimulus package too. I apparently fail to understand your point. The article was written "tongue-in-cheek" in making fun of Wall Street's "sacrifices" such that the peasants should feel pity for $3 million a year Wall Streeters "surplussed".