Paul Lachine

Crisis de imaginación fiscal

CAMBRIDGE - Bancos codiciosos, malas ideas económicas, políticos incompetentes: no faltan culpables para la crisis económica en que están sumidos los países ricos. Pero también hay en juego algo más fundamental, una falencia que se encuentra más allá de la responsabilidad de quienes toman las decisiones. Las democracias son notablemente deficientes a la hora de generar acuerdos creíbles que exijan compromisos políticos en el mediano plazo. En Estados Unidos y Europa, los costes de esta limitación a sus políticas han ampliado la crisis y oscurecido el camino de salida.

Consideremos  los EE.UU., donde los políticos están debatiendo la manera de prevenir una  recesión de doble caída, reactivar la economía y reducir una tasa de desempleo que parece no querer bajar del 9%. Todo el mundo está de acuerdo con que la deuda pública del país es demasiado alta y que debe reducirse en el largo plazo.

Aunque no existe una solución rápida a estos problemas, es claro el imperativo de política fiscal. La economía de EE.UU. necesita una segunda ronda de estímulo fiscal en el corto plazo para compensar la baja demanda privada, junto con un programa verosímil de consolidación fiscal en el largo plazo.

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