Debt and Deficits

Fiscal Reality Neglected in Presidential Debate

We're still broke


Mitt Romney rightfully got the nod as the victor of last night's debate, but while he carried himself with style and poise while Barack Obama looked like he wished he could be anywhere but on that stage, neither major-party candidate seriously addressed the big issue of the moment: a federal government that's spending money it doesn't have on big-ticket projects it can't afford. Medicare, Medicaid, Social Security and Military spending were all mentioned by the candidates in Denver, but not in the context of any serious plans to rein in the costs to a level the federal government might pay for on an ongoing basis.