Considering that our nation currently holds a national debt of nearly $15.5 trillion, and that the federal budget deficit for this year is projected at $1.08 trillion by the non-partisan Congressional Budget Office, it is clear we have a significant spending problem that needs to be tackled sooner rather than later.
Perhaps more appropriate metaphor would be to consider that the federal budget right now is a sick patient, and a surgical intervention is needed to put him on the course toward a healthy future. But that’s going to require serious leadership on budget matters in Washington. Here’s hoping we get it.
Brooks is policy director of Public Notice, an independent, nonpartisan, nonprofit dedicated to providing facts and insight on the economy and how policy affects our financial well being.