April 9th, 2011
Galbraith to speak on ‘irrational fears’ of deficit

STAFF REPORT

Galbraith

Local Democratic Party groups are hosting a talk by economist James K. Galbraith on “irrational fears” of budget deficit he predicts will stymie economic recovery.

Galbraith, a University Texas professor and son of renowned economist and statesman John Kenneth Galbraith, has written books that include The Predator State and a number of national publications. The event will be 3-5 p.m. Sunday, April 17 at 119 McCoy Hall on Comanche Street.

“Eliminating waste in government spending is desirable. But that is not what the House proposes; indeed the House budget failed to address the largest waste in federal government, namely in the military, and the House failed to remove our most egregious subsidies, such as oil companies. To adopt a policy of deep budget cuts at this stage of recovery is to surrender to irrational fears in the service of a political, not an economic, agenda,” Galbraith said.

The event is hosted by Democrats of Comal County, San Marcos Area Democrats, Texas State University Democrats, and Wimberley Democrats.