It’s the deficit-reduction package
that doesn’t reduce the deficit. It’s the debt-ceiling deal that
doesn’t touch the debt ceiling (and doesn’t cut debt). It’s the
long-term entitlement negotiation that—after nearly three years of
wheedling—does not delay, let alone stave off, a Baby Boomer
retirement bomb currently on pace to swallow half of federal
outlays by 2030.Say this for the fiscal cliff-avoidance bill that passed on New
Year’s Day, writes Matt Welch, it is a near-perfect expression of
Washington’s grotesque devolution since Bill Clinton left office.
Not only have a succession of Republican and Democratic presidents
and congresses combined to jack up spending from $1.8 trillion in
Clinton’s last year to a baseline level of $3.6 trillion and above,
but the process for arriving at these hideous figures has
degenerated into a series of endless, man-made, deadline
negotiations in lieu of actual budgeting.View this article.
View original article -