Another Front Page Editorial at the Washington Post

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Monday, 01 August 2011 03:58

The budget deal has them really excited at Fox on 15th. It told readers:

"At several points, Obama and Boehner held out hope they could agree on a far-reaching bipartisan plan to tame the soaring national debt once and for all by raising taxes and cutting health and retirement spending. But House Republicans repeatedly walked away from the bargaining table, refusing to raise taxes. In the end, policymakers were left with a far more modest achievement that does little more than resolve the immediate crisis."

Wow, maybe the Washington Post could share with us the mechanism for taming "the soaring nation debt once and for all." The reason the debt is soaring (serious newspapers reserve such terms for the opinion pages) is that incompetent economists allowed an $8 trillion housing bubble to grow out of control so that when it crashed it wrecked the economy. Does the Post know a mechanism that will require that the Fed and Treasury are staffed by competent people? Its readers would love to hear about it.