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Opinion

Restoring Fiscal Sanity

The road to financial stability will be long and difficult

Now that the nation's debt ceiling has been raised and the United States' credit rating has been downgraded for the first time in history, it's time to recognize that our political process is broken and that much more needs to be done to restore fiscal sanity. Washington waited until less than 12 hours before a technical default before agreeing on a deficit reduction target of $2.4 trillion that was far short of the rating agency Standard & Poor's $4 trillion goal. In addition, the agreement did nothing to meaningfully reform Medicare, Medicaid, Social Security and our outdated tax system. … Back to Article

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