The reality raises questions about the kind of future we want to leave for the next generation.
The Copenhagen Consensus has long championed a cost-benefit approach for addressing the world's most critical environmental problems.
In the last 50 years, when the budget process has been in place, Congress has managed only four times to pass a budget on time.
Those sounding the loudest alarms about possible shutdowns are largely silent when Congress ignores its own budgetary rules. All that seems to matter is that government is metaphorically funded.
Since Congress won't cut spending, an independent commission may be the only way to rein in the debt.
The lack of oversight and the general absence of a long-term vision is creating inefficiency, waste, and red ink as far as the eye can see.
Many politicians offer a simplified view of the world—one in which government interventions are all benefits and no costs. That couldn't be further from the truth.
Even taking all the money from every billionaire wouldn't cover our coming bankruptcy.
In 10 years, the programs' funds will be insolvent. Over the next 30 years, they will run a $116 trillion shortfall.
The higher taxes on small businesses and entrepreneurs could slow growth. Less opportunity means more tribalism and division.
As legislators refuse to act, benefits will be cut without any possibility of sheltering those seniors who are poor.
While some Republicans may have had misguided motivations, a few disrupted McCarthy's campaign in order to enact fiscal restraint. Their colleagues were fine with business as usual.
Medicare as we know it is unsustainable if we leave it alone.
The doc fix deal is a bet, but not a very good one.
Our sad, failed history of technocratic cost controls.
Somebody has to tackle that beast, eventually