You would scarcely know, from watching the current budget discussions in Washington, that one of the primary duties of the president and members of Congress is to provide responsible financing for the federal government.
In fact, it is hard to imagine that anything “responsible” is going on when just the current-year budget deficit is expected to be $1.4 trillion or more.
In case anyone is keeping track, that is increasing our $14.3 trillion national debt.
But are our leaders in Washington seeking, as a whole, to curb spending to reduce the deficit in a meaningful way?
The sad answer is evidently “No.” Vice President Joe Biden is saying he believes spending will be reduced by somewhere in the neighborhood of only $1 trillion – over 10 to 12 years! And he considers that paltry long-range figure a significant cut in the face of our mammoth debt!