Deficit Attention Deficit Disorder

Jeff Madrick has a solid and sobering piece on the economy in today's New York Times. Starting with Bush's ill-advised tax cuts and the cost of the (current) war, he ends up with a coherent, if depressing, picture of how this will prevent us from addressing our key domestic policy priorities. In summary: it's bad now, and it's going to get a lot worse. And then, when the baby-boomers start to retire in about 10 years, it's going to be become far worse still.