At this point in American history, it is now safe to say that the idea of “fiscal restraint” has become a quaint relic of the past.

The prevailing gospel in Washington, DC, is now to simply spend taxpayer money (and the money of future generations in the case of deficit spending) virtually without limit while insisting everything will be fine.

Consequently, the claim that “we can’t afford it” has ceased to really have much meaning anymore. Recent experience now suggests Congress can “afford” whatever it wants. All that is needed to rack up another 2 or 3 trillion in debt.

Read more…