In case you’re wondering at home, when all the whining is going to end, about who’s “responsible” for the absurdly high trilllion dollar deficit in Washington — here’s a pretty good answer.
I warn you though, it’s not a pretty picture. It’s not even a trainwreck you can’t look away from. This is like staring into the dark abyss of the Elephant Man’s soul.
“The solution, though, is no mystery. It will involve some combination of tax increases and spending cuts. And it won’t be limited to pay-as-you-go rules, tax increases on somebody else, or a crackdown on waste, fraud and abuse. Your taxes will probably go up, and some government programs you favor will become less generous.
That is the legacy of our trillion-dollar deficits. Erasing them will be one of the great political issues of the coming decade. “