Bipartisan Budget Woes
While cable news will surely spend the day fixated on the impending "nuclear option" in the Senate, there was an unnerving (and yet unsurprising) article in today's Washington Post on the growing budget "nightmare."
The conservative Heritage Foundation and the more liberal Brookings Institute sat down jointly yesterday to explain that in less than 40 years, if taxes are not raised and spending is not cut, the United States economy will near collapse as the country will be only capable of paying interest on the growing federal debt.
Meanwhile the White House has been touting the fact that the deficit will shrink in the next year. What both groups that spoke yesterday agree on is the fact that after the few years of possible deficit shrinkage (for lack of a better word), it will skyrocket after that.
What ever happened to worrying about future generations? Didn't leadership in both parties talk about that a lot in the not too distant past? Just a few years later all they seem to be able to do is worry about Terri Schiavo and a handful of judges, while they happen to pass a pork-filled highway bill without anyone noticing.
Washington Post: Almost Unnoticed, Bipartisan Budget Anxiety