Federal budget policy is a dry subject with far too many numbers and charts, which makes it uninviting to most Americans. But the theme of the current budget story is one that could have come from a blockbuster summer movie: We are doomed. There is a fiscal asteroid on course to pulverize us, and no one is coming to the rescue.

The problem is simple and depressingly familiar. This year, federal spending will exceed federal revenue by more than $400 billion. Given the weak state of the ...

( Back to Article )