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Sunday, April 25, 2010

CBO Director states the obvious

Unfortunately, the politicians have all the incentive in the world to do absolutely nothing about public financing problems until the crisis is absolutely at hand - otherwise, the politicians run the risk of being unelected for having to make hard decisions before the crisis actually is on our doorstep.

It is an odd way to run a railroad, but one consequence of lifetime politicians is that they want to be reelected and therefore don't do anything "controversial" regardless of how "good" or prudent it might be for the rest of us.

This recent presentation of recent testimony by the CBO director has this incredibly obvious, and unfortunately understated, slide (slide #9):

Yep - probably.

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