Deficits to Infinity

Michael Gerson on Wisconsin Republican budget guru the young Rep. Paul Ryan:

But unlike Kemp -- who didn't give a rip for deficits, being focused exclusively on economic growth -- Ryan is the cheerful prophet of deficit doom. "For the first generation of supply-siders," he explains, "the fiscal balance sheet was not as bad. The second generation of supply-siders needs to be just as concerned about debt and deficits. They are the greatest threats to economic growth today."

Fiscal Obamaism is not just a temporary, Keynesian, countercyclical spike in spending; it is deficits to infinity and beyond. "It is the interest that kills you," Ryan says. In a few weeks, he expects the CBO to report that, in the 10th year of Obama's budget, the federal government will "spend nearly a trillion dollars a year, just on interest! This traps us as a country. Inflation will wipe out savings and hurt people on fixed incomes. A plunging dollar will make goods more expensive. High tax rates will undermine economic growth. It is the path of national decline."

As we've seen in Illinois, an essentially bankrupt state--what good are all these Dem promises and programs when the state is stiffing service providers now?

How can we go forward if families and the private sector, who pay for all these increasingly cushy government employees and pie in the sky programs, are being crushed by taxes? And not just this generation but generations that haven't even been born yet. All this when Boomers are about to retire, further burdening working Americans.

It is no wonder a huge majority of Americans are upset and angry with their government. More voters now see President Obama as too confrontational.

There is no wonder to look forward to--unless we dramatically change our current path.

More. Peter Ferrara, TAS: The Coming Crash of 2011.

I'd say we have to change our Congressional leadership in 2010.

More.

mkhammer

RT @PrestonCNN: House Republican leaders just announced raising $4.5 million in January. NRCC has $4.1 million COH.