Posted on 12/22/2012 10:14:55 AM PST by arthurus
When your dissolute political establishment sinks to the point of being fit for lectures from Chinese Communists on spending restraint, and from erstwhile Soviet revanchists on foreign-affairs modesty, you are at rock bottom. Welcome to Washington.
Remember two summers ago, the depths of the last Beltway debacle on out-of-control borrowing that charted the course for today’s latest Beltway debacle on spending and taxes. It was then that China’s rulers blasted Uncle Santa for our “debt addiction,” our failure to observe “the commonsense principle” that a nation, like a family, must “live within its means.” At the time, U.S. sovereign debt — of which China is, not coincidentally, a major holder — had been downgraded below triple-A for the first time ever.
(Excerpt) Read more at nationalreview.com ...
Nails it on all counts.
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