Robert Samuelson takes on both parties when it comes the deficit.
It boils down to this…
Our budget problem is conceptually simple. Government’s spending commitments, driven by more retirees and uncontrolled health costs, vastly exceed the existing tax base. There is an argument about how fast changes should be made to protect the economic recovery. There should be no argument over the need for changes to prevent a debt crisis: Too many Treasury bonds frighten investors and drive up interest rates.
Boulderites will be glad to know Samuelson doesn’t have much good to say about the Ryan budget. Unfortunately for them, he skewers the Democrats as well.
