A Sea of Red Ink

As, I hope, most Americans are, I am concerned about the federal debt. Already high at the end of the Bush years, the federal deficit is now even higher, and the forecast for future years is even worse.

Clearly this is unsustainable.

I voted for Obama and I support his agenda. But at some point the deficit/debt must be addressed. I believe Obama to be an intelligent man and an astute politician. He surely understands the potential problems of continuing to pile up debt. I have to believe that he has a plan.

And the plan is this.* Effectively dealing with the federal deficit will not be politically popular. Programs will have to be cut and taxes raised. It will take a lot of Obama’s political capital to do this. So much so, that it would be difficult for him to get his other agenda items through after dealing with the deficit.

Of course, getting his other agenda items through might not leave him with enough capital to deal with the deficit. So what to do? By leaving the deficit for later, it continues to grow to obscene amounts. A year (or two?) from now, congress will have no choice but to get serious about the deficit. Democrats will have to accept some program cuts and Republicans will have to accept some taxes. They will be pushing each other aside to cut and raise more than the other.

A guy can dream, right?

*No, I have no inside info. This is completely speculative on my part.

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