- “The Brutal Arithmetic of the Budget Deficit,” Businessweek
- “FAQ About Sequestration Under the Budget Control Act of 2011,” PDF
The bigger cliffs ahead include problems associated with
- a structurally unsound and unstable Social Security
- Medicare and Medicaid commitments that are also unsustainable
- a continuing regime of “too big to fail” providing incentives to another round of risky investments
- a looming dollar crisis
- imperial overreach risking the life and liberty (not to mention pocketbooks) of American citizens
- a general increase in the “gimme gimme” mentality, the political and moral hazard of everyone trying to live at the expense of everyone else.
Any one of these is very bad. Together they threaten the very existence of the union. Here at Common Sense, we’re always interested in these problems, and in finding solutions. So, if you haven’t already, click on the link, above right, and subscribe to the email version of this weekday commentary. Thanks!