Monday, December 26, 2011

It's Take Away Time

Robert Samuelson warns that time is running out on our elected leaders to come to grips with our looming fiscal crisis.
WASHINGTON -- There are moments when our political system, whose essential job is to mediate conflicts in broadly acceptable and desirable ways, is simply not up to the task. It fails. This may be one of those moments. What we learned in 2011 is that the frustrating and confusing budget debate may never reach a workable conclusion. It may continue indefinitely until it's abruptly ended by a severe economic or financial crisis that wrenches control from elected leaders. 
We are shifting from "give away politics" to "take away politics." Since World War II, presidents and Congresses have been in the enviable position of distributing more benefits to more people without requiring ever-steeper taxes. Now, this governing formula no longer works, and politicians face the opposite: taking away -- reducing benefits or raising taxes significantly -- to prevent government deficits from destabilizing the economy. It is not clear that either Democrats or Republicans can navigate the change.
Which is to say that the 12 percent of Americans who "approve" of congress are woefully ignorant.  

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