Ambers reports on the administration's smoke signals about the debt:
There will be talk of real, across-the-board limits to discretionary spending. There will probably be a bipartisan deficit-reduction panel set up, along with, perhaps, another Social Security reform commission.
Talk is cheap. And commissions are often ways of avoiding, not expediting real cuts in entitlements and defense. For this independent supporter of Obama, the key issue in the next year will be seriousness about reducing long term debt. If he cannot do it, or fails to make it a priority, he will lose me and many others. I understand why circumstances and inheritance have propelled the debt up right now. But circumstances cannot explain away the long-term crunch. A real leader tackles that. A phony leader ducks it.
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