We Cannot Afford More Toys

Watching the fallout from both sides on the release by the co-chairs of President Obama’s Deficit Commission of a draft proposal is a bit like watching young kids pouting in a toy store when their parents tell them that they cannot get all the toys they want because their parents lack all the money to pay for them. The left doesn’t want cuts in entitlements. The right doesn’t want to cut defense spending.

If we are ever going to solve our debt problem, or at least make a dent in it, we will have to grow up. The few grown-ups in this situation have to take the lead. But fiscal maturity is not an attribute many voters or politicians have often displayed.

It’s always easier to delay the sacrifice associated with fiscal responsibility. But, in the end, failing to grow up will have dire consequences.

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