The Spectacle Blog

We’re Going Broke

By on 3.14.11 | 4:22PM

Liberal writer E. J. Dionne Jr. goes all-out for fiscal crisis-denialism, arguing in The Washington Post:

We're not broke. Yes, nearly all levels of government face fiscal problems because of the economic downturn. But there is no crisis. There are many different paths open to fixing public budgets. And we will come up with wiser and more sustainable solutions if we approach fiscal problems calmly, realizing that we're still a very rich country and that the wealthiest among us are doing exceptionally well. 

Dionne may be technically right that we are not at this moment in a state of fiscal crisis, although, as Matt Welch points out, there are plenty of local governments that are literally bankrupt, and all the projections for the federal government are not much brighter. 

And there may be, on paper, "many different paths" to fixing budgets (although the route he hints at -- taxing the "wealthiest among us" is not one of them). The problem is that there are a lot of interests, lawmakers, voters, etc. making it more complicated. 

In other words, if Jim DeMint could unilaterally set the budget, there would indeed be no fiscal crisis. But liberal fiscal denialists wouldn't like the results. 

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