Irwin Stelzer on President Obama's Budget Proposal

[OrganicTory]

An excellent overview, Dr Stelzer. I've seen reports that estimate that the deficit percentage of GDP will drop, but then will rise again--no one even contemplates the possibility of a budget surplus (and hence eventual debt repayment). Reading your ongoing commentary in the Times (UK), at least one can argue that most British politicians have some grasp of the enormity of their deficit/debt challenge. Such an epiphany seems sorely lacking in the US. Heaven help us all.