Brian Topp draws lessons from Ireland’s meltdown.
The state is awash in debt (thanks in part to excessive tax cuts); the deregulated private sector has gorged itself in an orgy of speculative greed, and finally expired in a property and banking bubble; and now the working and middle class – and their children, and their grandchildren – get to pick up the tab while the winners enjoy their properties in the Grand Caymans. Nobody in Ireland stood up to the special interests. They “ran like a business.” Now the bill has come due.
These are the real stakes between those who work for moderate, prudent, incremental progressive government, moving forward within its means in the public interest, and the other side – the mouthpieces for greed and reckless irresponsibility. The shills and charlatans of the populist right, and those who fund them.