We’ve been feeling kind of charty lately. Kevin Drum explains this one:
Bottom line: our current deficit panic is mostly just manufactured hysteria. Our recent spike in spending is an artifact of the recession and will go away in the next few years. Generally speaking, defense, discretionary, and interest expenses aren’t an issue and don’t really need any special attention. Social Security is basically fine and needs only a few small tweaks. The only thing we should be seriously concerned about is healthcare spending. Period.