THE FRENCH CONNECTION

t. man hatter
With a "forty-year history of nearly unbroken deficits," the term instant results should never even be in the discussion.

And that's the problem all reform movements share. It took 40 years to get it this screwed up, but critics want it fixed pronto and without any pain or discomfort. As someone once put it: New ideas don't go down easy.

A wise old gentleman and statesman named Benjamin Franklin, a guy who had some apparently fond French connections, was noted for many things, one of which is the saying: "A stitch in time save nine." 

That's the problem with France and a whole lot of other countries around the globe including the United States. Nobody wants to pay the piper on time. And France is only one of a gaggle of classical, historical examples.

But you don't have to look at France and their current political-social turmoil. Take a look at Mexico and its relatively new government's struggles to evoke change.

Mexican President Enrique Pena Nieto took office less than two years ago bringing with him, according the Financial Times, a "game-changing agenda which includes flinging open the energy sector to private investment after nearly 80 years under a state monopoly, forcing competition in a telecom market dominated by mogul Carlos Slim, as well as education, labour and financial reforms."

After a first rough year when much of the global economy was still under weather, the Mexican economy appears to be picking up some oomph. In the interim Nieto won international praise for his "gutsy" moves. And the big ratings firm Moody's has a scheduled conference with the catchy title, "Mexico's debut in the big league."

So what do you suspect Nieto's popularity ratings are?  If you answered not great, you're just a kind soul who likely gets most of his news from your local throwaway. According to a recent Pew Research Center survey, 67 percent of Mexicans "are unhappy with the way things are going and many resist change."

Are you surprised?  Though much of the disappointment centers on Mexico's poor results in Nieto's first year in office when the economy grew only 1.1 percent, people remember and expect his 2012 promise to bring 5-6 percent GDP growth.

There's an old business saying about giving more than you promise if you want to be successful. After all these years, apparently it's one bureaucrats and politicians have yet to learn.

It also contains a deep lesson about deficits seemingly too subtle for many to understand.