Last week the House Republicans offered a budget proposal that balances the budget by taxing for Obamacare but magically obliterates the law itself. This week House Democrats offered an equally unlikely option in the form of a budget that replaces hard earned sequester cuts with $1.2T in new taxes, while continuing to spend more than we collect for the next two decades. What hope is there for fiscal sanity when our elected officials can’t seem to get even a small grip on reality.
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Politics is lagging far behind economics – we are in a complex global economy in new terrritory postponing badly needed corrections – experts are not sure what to do – politics is a blend of meaningless party principles and self serving power grabs – there is a world wide crises of leadership.