Debt? What Debt?


From Mr Krauthammer at NRO:

JULY 8, 2011 12:00 A.M.

The Elmendorf Rule
We don’t estimate leaks.

Here we go again. An approaching crisis. A looming deadline. Nervous markets. And then, from the miasma of gridlock, rises our president, calling upon those unruly congressional children to quit squabbling, stop kicking the can down the road, and get serious about debt.

This from the man who:

  • Ignored the debt problem for two years by kicking the can to a commission.
  • Promptly ignored the commission’s December 2010 report.
  • Delivered a State of the Union address in January that didn’t even mention the debt until 35 minutes in.
  • Delivered in February a budget so embarrassing — it actually increased the deficit — that the Democratic-controlled Senate rejected it 97–0.
  • Took a budget mulligan with his April 13 debt-plan speech. Asked in Congress how this new “budget framework” would affect the actual federal budget, Congressional Budget Office director Doug Elmendorf replied with a devastating “We don’t estimate speeches.” You can’t assign numbers to air.

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