About that "Super Committee"............

My favorite economic futurist laments...............

given the enormous financial pain and dislocation resulting from the Great Recession which ran from December 2007 to June 2009—anyone you know who might have been required to reduce their annual spending by a whopping three percent?

As noted many times, we are not talking about “spending cuts.” We are talking about slowing the future growth rate of government spending. Again, only in Washington DC can you spend more money every year on a program…and call it a spending cut!


But notes:

If we learned anything in recent days it is that the November 2012 elections, now less than a year away, will be primarily focused on 1) the size and growth pace of the federal government, and 2) who pays for it.  Every major election cycle is adorned with the “most critical ever” label.  This time it is as true as ever before.