Geithner: Why, no, our new budget does nothing to address America’s long-term fiscal crisis
posted at 6:40 pm on February 16, 2012 by Allahpundit
Via Philip Klein, stick with this until at least 2:45, when Ryan drops the national-suicide debt chart on him and TurboTax Tim notes that, hey, the numbers between Obama’s budget and Ryan’s are actually comparable — for the next five years or so. Quoth Klein: “[A]s Ryan pointed out, the Treasury Secretary, more than anybody, should recognize how problematic it would be for bond investors to lose faith in America’s finances. If they stop buying U.S. bonds, a crisis can hit much sooner than a chart would suggest. Furthermore, virtually every budget expert recognizes that the longer the nation waits to do address its problems, the more drastic the possible solutions have to become.”
Don’t you worry, though. Just as soon as this economy’s growing again, the haze of Keynesian deficit spending will lift and The One will transform, butterfly-like, into a warrior on entitlement spending. I can feel it. Until then, I’m off to sit in a dark room and drink myself into a coma.