The Perverse Recession

VDH has a great article today. My favorite part:

4). Politicians have become like the CEOs they caricature. The only difference is that their poorly-run corporations cannot go broke. How odd to see a spendthrift Bank of America or Citibank mogul chewed up by a profligate Senator who is responsible not for $100 billion in subprime toxic assets, but for $13 trillion in run up deficits. Strange it is to see Nancy Pelosi rail about private jets for corporations that indirectetly get US subsidies when she flies on one through direct government subsidies. The truth is that now it is far better to be Speaker of the House, Senate Majority Leader, or House whip making a paltry $200,000 or so than to be the head of Goldman-Sachs or GM. The jets are better, the traffic-interrupting motorcades are quicker, the perks, free food, gas, car, or limo are as good or superior, and the deference and status outdo those in the corporate world. A cabinet officer or Congressional leader gets all the slush of the CEOs without the risk or liability of going broke. There is no broke—ever. You come into office, spend, take the perks, and go out leaving a greater debt to your successor who likewise prints more money. And if you are a Ted Stevens, Charlie Rangel, Chris Dodd or John Murtha, instead of obscene stock options, your freebies aren’t even taxed—or known.