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Death to “Discretionary” Budgeting

Excerpt:  “Washington has managed to shirk its duty to perform responsible budgeting for decades thanks to the trend of declining interest rates and low inflation. Those times are gone. An enduring rise in the cost of financing the national debt, coupled with large structural deficits and public concerns about the cost of living, will make it increasingly difficult for officials to continue treating fiscal problems as an inconvenience. Finding a solution to this looming crisis is a leadership opportunity both for individual legislators and Congress as a whole, which badly needs to earn back the confidence of the American public.”