Never mind the “fiscal cliff.” America went bankrupt, technically, at midnight on December 31, 2012. We hit the debt ceiling of $16.394 trillion. Yet the U.S. government needs to borrow more money than is legally allowed. So Treasury Secretary Timothy Geithner is now juggling federal accounts via questionable extraordinary measures to squeeze out perhaps two more months. Uncle Sam has maxed out his credit cards.
More than ever before, America now faces national ruin unless political leaders cut federal spending. However, Washington no longer understands what budget cuts are.
Simply trim a few percent from every program — here a little, there a little. Isn’t that obvious? Yet big spenders howl as if entire programs must be completely eliminated — all or nothing. People will be cut off and starving in the streets if the federal spending spree is slowed. “What would you cut?” candidates are asked. This is a trap. Attack journalists twist whatever a candidate answers into a scandal of heartless cruelty.