BUDGET CONTROL ACT
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The threat of the looming sequester is a genuinely good reason to get very stressed out about what might happen to the domestic discretionary budget and the vulnerable Americans who are served by any number of important services. But there seems to be no one who is suffering from outright Sequestration Derangement as badly as Bob Woodward. That unraveling hit a high today, when he went on the "Morning Joe" program and seemingly forgot that our nation is nominally governed by the rule of law.
For more than a decade, deficit hawks and their allies in the media have been promoting a grand bargain whereby Republicans agree to tax hikes and Democrats agree to cut social programs like Social Security and Medicare. That, in turn, will put the deficit on a downward path and presumably restore economic growth. The trouble with this premise is that the current deficit is mainly the result of the recession itself plus the Bush tax cuts and military spending increases. It has nothing to do with Social Security; the projected increases in Medicare spending are only the result of failure to tackle deeper health care reform.