One Nation, Ungovernable?

One Nation, Ungovernable?

January 23, 2009

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As both political parties wrangle over economic stimulus packages and appoint czars

with unprecedented powers, the federal budget eficit is ballooning above $1 trillion. The

federal government’s annual spending before he creation of the $700 billion Troubled Assets elief Program (TARP) already topped $3 trillion. Since the bulk of that goes to “nondiscretionary” ntitlement, health, and defense budget commitments, the budget was already argely uncontrollable—even before the economic crisis deepened.