Economy Journalism

Budgets are Not Fixed “Once and For All.”

There is plenty to hate about this article and very little to recommend it. But the following line is just amazingly stupid:

Debt deal offers only small blessings for economy | Reuters.

About $1.5 trillion of the planned savings will be decided by a bipartisan congressional commission, leaving unanswered the question as to whether the United States has the political will to tame the country’s growing debt pile once and for all.

Budgets are living documents. Economies grow and shrink. There is no reason to think that we will ever deal with budgetary problems “once and for all.” In fact, the only reason we’ve been subjected to this whole pointless psychodrama is because Congress attempted to solve the problem in such final terms and has subsequently ignored its own edict 74 times.