"Structural Deficits"

Over at Obsidian Wings, Von uses visual aids to demonstrate the radicalism of President Obama’s long term fiscal plans. It is notable that the current “solve the economic crisis” spending spree is a small portion of what would be a reckless course even without them.

As he notes:

Obama and the Democratically-controlled Congress are creating debts and deficits larger than any other US government in the history of the Republic, under any measure, with the singular exceptions of the governments that got involved in a bet-the-country war.

I am not one for overheated rhetoric, but the word for that level of spending — far exceeding even a war-of-choice starting spendthrift like George W. Bush — is radical.

I’d only add that the United States is inevitably going to be confronted by unexpected challenges in coming years—perhaps quite grave ones. Imagine that circa 2015, we are facing worse than expected climate change, or the destruction of Midtown Manhattan by terrorists, or a collapse in Los Angeles port and freeway infrastructure due to a major earthquake and tsunami, or Russian aggression in the North Pole that demands a costly military response, or a flue pandemic that cuts world economic output in half.

A prudent country saves something for inevitable hardships. Our country has spent years of relative luck and prosperity spending ever more — and now we’re planning to accelerate the trend.