You've probably heard the phrase "skunk at the picnic" before. Well, here's today's picnic [1]: new figures showing a lower federal deficit [2] for this year.

Now, allow me to wrinkle some noses. Make no mistake, a lower deficit is a good thing. But it's not enough of a good thing. Until we get a grip on entitlements and the national debt [2], we're not making progress on our nation's finances. That would be true even if we'd managed to balance the budget this year, because enormous liabilities are sitting out there [2], waiting for us and our children. And people really need to understand that while there's still time.