Losing track of the trillions? It is easy to do in the spending frenzy now underway in Washington. Even budget veterans are finding it hard to keep up, and it appears most in Congress stopped counting some time ago. But obliviousness is no excuse for steering into a budgetary dead end. Before going any further, the nation’s leaders need to take stock of the fiscal implications of recent decisions and their planned initiatives to ensure future taxpayers are not overwhelmed by debt.
James C. Capretta is a resident fellow and holds the Milton Friedman chair at the American Enterprise Institute.
