In response to:

The Kingdom of Fairness

man of steel Wrote: Dec 06, 2012 8:51 PM
I'm thinking maybe you need the Accounting course, but let me help you out with the reader's digest version; 2.3 trillion in revenue minus 3.5 trillion in spending = 1.2 trillion deficit (plus interest). There. See, it's really not that hard. I think even Joe Biden can understand....maybe not.

We are still borrowing more than $1 trillion a year. Barack Obama has added more than $5 trillion to the national debt in just his first term alone. Such massive borrowing is unsustainable. Someone somehow at some time has to pay it back.

Obama would agree. He once alleged that George W. Bush's much smaller deficits were "irresponsible" and "unpatriotic." Obama himself vowed to cut the budget deficit in half by the end his first term. Instead, Obama's annual deficits have never gone below $1 trillion.

Three ways to establish a long-term trajectory toward a balanced budget were under...