Sunday, August 01, 2010


The NYTimes had an interesting editorial in today's edition on the current economic situation. You can read it here. I like it because it basically lays out the facts without all the wavy hand movement sky is falling prose. It's scary stuff. We went from surpluses in the Clinton era to deficits in the Bush era, which was then exacerbated by Obama. Then you have the 40% of the budget -- entitlements -- that are just impossible to deal with in a logical way, the tax cuts that decrease revenue, and the persistent joblessness that means extending unemployment. I sense tax increases in our future but don't just blame Obama. W had a lot to do with it as well.

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