E.J. Dionne has another good column today. Last two paragraphs:
The larger problem is the emptiness of all the howling over the long-term deficits. Nibbling away at bits of Obama’s proposed budget will do very little about them. Talk of “entitlement reform” is empty unless we have health-care reform — and unless we acknowledge that we will never cut Medicare and Social Security enough to close the budget gap. In fact, Social Security is more important than ever, now that the value of so many 401(k)s has plummeted.
The task of those who genuinely care about deficits is to make the world safe for tax increases. Under current conditions, it’s a whole lot easier for politicians to talk a lot about deficits, and then just let them grow.