The problems on Wall Street, our energy woes, the election-year fight over taxes versus more programs, and the housing crash have one common denominator: massive debt. They are simply the collective reflections of our own spendthrift habits of buying things with borrowed money that we now either can’t or don’t want to pay back....It's the Economy, Stupid, Victor Davis Hanson, National Review Online
If Salvador Dali had been alive to paint this year's election campaign, the background for campaign posters might have included melting caricatures of the candidates. Why is it that neither Senator is willing to conduct pitched battle on the subject of government and private debt?
Victor Davis Hanson, the military historian and classicist, has no such qualms. Read his article at the link. It's a sharp, wise description of what has gone wrong and why. A campaign of fabulations is no campaign at all.