Wednesday, December 16, 2009
Debt crisis portends liberalism's end
Examiner Editorial | December 16, 2009
Within the lifetimes of the vast majority of living Americans, government as we have known it since the New Deal will become paralyzed, unable to deliver even basic services, let alone the myriad of entitlements that politicians had promised would last forever. Liberalism will owe its undoing to its blind faith that government could forever be the inexhaustible provider of ever more spending, more benefits and more prosperity, with nary a day of reckoning.
This report does not come from some gold bug or fevered disciple of trickle-down economics. On the contrary, it is the product of a bipartisan commission led by three former congressmen, two Democrats and one Republican. The commission also includes two former comptrollers of the United States, seven former Congressional Budget Office directors, seven former Office of Management and Budget directors, three former chairmen of the House Budget Committee and one former chairman of the Federal Reserve.