Will We Riot Too?

Today, the co-chairmen of a bipartisan commission in the United States published a draft set of recommendations for how we might be able to get a handle on our deficit and crushing debt – an economic tsunami that all experts agree must get addressed. The commission’s final report is not due until December 1, and it must be reviewed and accepted by the full commission. The commission has no actual power, but will provide recommendations to Congress.

Already, various commissioners are questioning some of the initial recommendations. Why? Because many of the recommendations are political hot-potatoes that will likely be debated incessantly for many congressional sessions. Recommendations include a complete revamping of the tax code, reduction in all tax rates (in exchange for closing of loopholes), 15-cents-a-gallon increase in the gasoline tax, and Social Security benefits cuts and an increase in the retirement age. Clearly, the commission is hitting all of the hot-button issues.

We all know that something needs to be done. Many people have been suggesting some of these changes for years, but political lobbying, a volatile electorate, and the focus on military expenditures over the last decade have ensured that nothing has happened. Now, clearly, something will happen. The “reformed” Republican Party that is supposedly now more fiscally responsible, the ascendancy of the Tea Party movement, the rising cacophony of the expert opinions, and common sense tells us that there will be many debates that will result in some action. What action? I suppose that is the question now, isn’t it?

So, will we riot when the recommendations become actual government decisions? Should we riot?

Although the cultures are different and the decisions are different, the European experience gives us some insight into what we might expect. Maybe there will not be blood, but there will be protests. Maybe those protests will get ugly. The decisions may be that tough. But do our politicians – and do the people – have the toughness to make something happen for the good of this country?

So what has happened in Europe? First, the government of Greece announced austerity measures to help address significant economic issues related to heavy government debt and financial instability; then Greek protests led to violence and deaths. More recently, the French government decided to adjust the age at which French workers become eligible for their state pension. French workers showed the French leadership that they were none too happy. Now, in Britain, students have raised a ruckus due to significant increases in university tuition. This comes after the British government announced other “austerity” measures designed to – like the Greeks – get the economy under control.

Ok, so Europeans generally like to protest more than folks in the US. They have more passion, free time and historical precedence. But the US has had its share of protests, so we are not immune. We reserve our significant protests to what really matters, and this may be that time.

The changes are coming. We need to make some sort of change. All sectors need to “feel the pain,” right?  After all, without doing anything wrong, many of our houses are worth less, wage increases have been smaller, and yet taxes are still due and college must be attended. We as a country need to address these issues – with or without a riot.

[Amended on 11/12: just another example of how tough this will be, which is another example of what can go wrong when the moderates get booted; and for the liberal perspective on the commission and its recommendations, see Paul Krugman’s lashing. But we need to start the conversation somewhere, right? ]