Where Did All the Money Go?|
1997 August 04|
Ronald Reagan borrowed a trillion dollars from the Japanese and threw a party. Now it's really Morning in America, and the hangover is pretty bad.
As with all hangovers, ignoring it won't make it go away. Unlike hangovers, just being patient won't make it go away, either. The US is going to have to abandon the politics of denial and start looking at the hard choices it faces after half a century of reckless spending, unchecked militarism, catering to special interests, and building an auto-centric society.
A return to honest politics is essential, which in turn requires campaign financing reform. The public must stop accepting pleasant lies from its leaders and demand the hard truth for a change. The pork barrel must go, and subsidies must be replaced by cost-based pricing. America can prevent a recurrence of the debt and deficit crisis by acknowledging just how expensive the politics of denial has been. This is your wake-up call.