Monday, January 21, 2013

Confessions of a spendaholic

Here's the Washington Post editorial a day before Obama's re-inauguration:
Mr. Obama’s answer is for the government to invest more in the foundation stones of economic dynamism and opportunity: education, research and infrastructure. That was the message of his reelection campaign, and we think it is correct. But it can’t be the whole story. On its current path, the government won’t be able to sustain the kind of investment the president favors because in just a few years its entire budget will be swallowed by entitlement spending, much of it on the well-off elderly, and interest payments on the ballooning debt.
Gosh, that sounds familiar.  Bad news, WashPost: Obama's not going to do any of that "hard choices" junk:
Translation: he isn't going to do anything to seriously reform Social Security, Medicare or Medicaid, and wants more economic stimulus spending, too. So, within a breath of calling for hard choices, he rejected the need for them.
So we'll keep on borrowing 40 cents for every dollar spent and it will be four years of blaming everybody else.  Fun.

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