Re:Fitch Downgrades the US Rating to 'AA+'
by creato on Tuesday August 01, 2023 @09:40PM
(#36965883)
This basic principle is true in any political system, from communist one party states to corporate ladders.
The more specific problem is that the incentives aren’t aligned, because voters aren’t capable of seeing the relevant causes and effects. When the only thing voters react to is immediate economic conditions, of course politicians fight tooth and nail for more spending when they are in power and cuts when they are not.
The more specific problem is that the incentives aren’t aligned, because voters aren’t capable of seeing the relevant causes and effects. When the only thing voters react to is immediate economic conditions, of course politicians fight tooth and nail for more spending when they are in power and cuts when they are not.