David Stockman on the looming federal debt crisis

David Stockman, an OMB director under President Reagan, wrote a lengthy, but worthwhile, piece in Politico this week, blasting the Washington, D.C., establishment for creating a disastrous fiscal mess.  He is pessimistic about our ability to get out of it, and I am increasingly coming to the view that some kind of fiscal and financial [...]

Debt commission post

A few days ago, I posted in favor of a debt commission.  I just wanted to clarify my views on the subject.  My preference would be to phase out all entitlement benefits and impose stringent controls on the way Congress can appropriate money, but the former will definitely not happen, and the latter has a [...]