From Grannis for Congress:
Congress fiddles while the economy burns
by Mark Grannis, Libertarian for U.S. Representative, District 8, Maryland
This afternoon the White House once again availed itself of the rather sophomoric tactic of scheduling the release of really important but really bad news on a Friday afternoon so that fewer people would notice it. What was the bad news? That budget deficits for this year and next are likely to be even higher than the $1.4 trillion we had to borrow to keep the lights on last year.
Let me write that again, because I fear that our use of the word "trillion" is beginning to hide the magnitude of our budget problems. The bad news is that budget deficits for this year and next are likely to be even higher than the $1,400,000,000,000 we had to borrow to keep the lights on last year.
It’s hard for me to write anything about this because it’s hard for me to believe I have to. Isn’t it obvious that we simply can’t continue this way? Wasn’t it already obvious when the deficits were less than half as large as they are now? All that has happened in the interim is that the change we so obviously need has become harder, and we have less time to effect it.