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Everything You Ever Wanted To Know About The Budget* *But Were Afraid to Ask
David Wessel, The Wall Street Journal After 25 years of covering the federal budget, I'm still amazed at the persistence of fiscal misconceptions. The distinction between fact and political opinion has been blurred to the point of invisibility. The choices — what spending to cut, whose taxes to raise — are fundamentally political; the facts are not. But the budget is now so sprawling — the U.S. government spent $400 million an hour last year — that grasping it in its entirety is impossible. The budget, I've concluded, is best understood in digestible morsels. Read More