Quote of the Day

Found at Wizbang, who found it in the Bloomberg interview:

"Our real problem is not the spike in spending last year, or the lost, even the lost revenues last year, as significant as those are," he said. "The real problem has to do with the fact that there is a just a mismatch between the amount of money coming in and the amount of money going out. And that is going to require some big, tough choices that, so far, the political system has been unable to deal with."
B.H. O'Bama

This kind of understanding of economics explains a lot. Too bad no one noticed it sooner.