... a clue about what's going on with the talks about the debt ceiling, or why I always hear so much about posturing, and stupid soundbites about somebody else posturing, or whatever stupid thing Michele Bachmann supposedly just said that doesn't bother us when President Obama says it (assuming we ever hear about it) ...
There's a reason why none of us have a clue, and Jay Cost of The Weekly Standard is here to tell us. The mainstream media is “relentlessly emphasizing the personal dramas rather than the big picture.” And he is as fed up with it as the rest of us, so ...... let’s sketch that out today: a broad-based look at why this current fight is so messy and what the prospects are for the future politics of deficit reduction.
It wasn’t always like this. Between 1947 and 1967 the federal budget deficit was negligible, equaling only 0.3 percent of GDP. Yet tax rates remained relatively low ...
As yours truly has been saying from the offset, to reduce the role of the federal government in our daily lives, is to decide what to do without. But first, find out how we got here over half a century, which spreads the blame on policy makers in both parties, at both ends of Pennsylvania Avenue, not to mention whoever elected them. Then we can all go back to wondering what Kim Kardashian wore at a Hollywood movie premiere last weekend.
Ah, the burning issues of our time!
THIS JUST IN: Mark Tapscott of the Washington Examiner says the United States has been in default before; not once, but several times. Read all about it!
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