A “Fool’s” Perspective On The Deficient

The factors that took the country from surpluses 10 years ago to deficits today aren’t, for the most part, those that are constantly maligned by the media and political parties — bailouts, stimulus spending, earmarks, bridges to nowhere, foreign aid, and social causes.
It’s simpler than that. We had massive tax cuts, two wars, and a giant recession. It’s difficult to take seriously any deficit-reduction proposal that doesn’t take these into consideration. Something to think about.

I think this is dead on. You can, and I think should, read the abnormally interesting and clear discussion the leads to this conclusion on The Motley Fool website. The piece is by Morgan Housel.