The Rewards of Incompetence . . . 0
. . . are nil.
Dean Baker, writing at the Guardian, points out that many of those who today crusade against the growing deficit are the same folks who championed the policies of that led to the housing crash, which in turn led to . . . the growing deficit.
A nugget:
Now that we are experiencing an economic disaster – 25 million people unemployed or underemployed, millions of people facing the loss of their homes, more than 10 million underwater with their mortgages – as a direct result of their incompetence, these same people are telling us again about the urgent need to cut social security and Medicare. The deficit hawks somehow think that their case is more compelling because of the damage done by their incompetence.
It should not work this way. In most lines of work, incompetence is not a credential; it should not be one in designing economic policy either.
