David Stockman explains how neither party is serious about debt reduction and both are leading us off a cliff:
“The real problem is the de facto policy of both parties is default.
When the Republicans say no tax increases, they’re saying we want the
U.S. government to default. Because there isn’t enough political will in
this country to solve the problem even halfway on spending cuts. When
the Democrats say you can’t touch Social Security, when you have Obama
sponsoring a war budget for defense that is even bigger than Bush, then I
say the policy of the White House is default as well.”