Oh NOW We'll Talk Fiscal Discipline

The White House is planning a "Fiscal Responsibility Summit" to address America's deep debt after passing the $787 billion stimulus package. President Obama told a group on Friday that "over that midterm and long term, we're going to have to have fiscal discipline. We are not going to be able to perpetually finance the levels of debt that the federal government is currently carrying."

Discipline is almost always the best route but Obama didn't find it necessary in the short-term. Saving the hard part for later? Sounds pretty irresponsible. How will this bipartisan meeting produce any meaningful results? It promises to be a continuation of the political bickering the stimulus has fueled for months.

The Caucus reports invitations will be sent to 90 people: 30 members of the House, 30 senators and 30 scholars and representatives of advocacy groups such as AARP. Apparently, the attendees will be divided into discussion groups on topics including health-care costs, Social Security, tax reform, defense procurement and the federal budget process. Economy camp!

In Obama's inauguration speech, he quoted the Bible, saying it was time to "put childish things away." He's yet to live up to that.