Budget: Our out-of-control federal debt is a lot like a bad disease: Just because you ignore it doesn’t mean it will go away. Even as pundits and economists tout a U.S. recovery, our fiscal picture just keeps getting worse.
Weird, isn’t it, that politicians have almost stopped talking about the worsening fiscal picture and are instead talking up the economy, the stock market, female contraception, Rush Limbaugh — anything but our budget.
That’s why it was good to hear former Indiana Gov. Mitch Daniels make a case this week in rather stark terms that our budget deficits and growing debt have to be tackled right away, or we’ll lose control of our future.
“Whether one believes in a large, very active government or something more limited, mathematically the amount of debt we already have and the terrifying rate at which it is accumulating will lead to national ruin,” he said. “There is no other outcome arithmetically possible.”