In response to:

The Kingdom of Fairness

Scrap Iron in Texas Wrote: Dec 06, 2012 11:35 AM
You have just discovered the secret of voodoo economics, as practiced by politicians. You will note that government does NOT follow the same rules of accounting that they demand all businesses use.

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...