Your Choice: A Deficit, or a Deficit

As far as the fiscal issues go, I think the media's been tougher on the presidential candidates this year than in the past, and this Bloomberg News story is the latest example. So far, it isn't clear that it's having much impact.

Given the current budget situation, the next president isn't going to be able to balance the budget quickly or easily. But they could at least be honest with the public. The half-trillion deficit projected for next year is bad, certainly, but our long-term outlook is worse. And the candidates aren't making any effort to prepare the public to deal with it. They may be thinking that their first job is getting elected, and then they can deal with the budget. That's a time-honored political technique. But springing the fiscal reality on the public next year might make for a short political honeymoon.