Make Us Thrifty, But Not Yet, Ctd

Derek Thompson is disappointed with his fellow liberals:

[W]hy is Matt [Yglesias] writing "the budget deficit isn't currently a problem, but it almost certainly will be in the future and that's when congress will act to deal with it." Wait until it's almost too late is not an ideal solution to any slow-burn crisis, whether it's climate or fiscal ...

Tim Fernholz seems to share my principles about the budget without sharing my premise that the chairmen's plan is useful. "We need to get our long-term spending under control," he writes. "The longer we delay making sustainable budgeting decisions, the harder it becomes to make them." Totally! Tim has correctly described the necessity of the deficit commission. So why doesn't he love the deficit commission? Because even after raising Social Security taxes, and allowing tax revenue to reach historical highs, he would like more revenue. I would like more revenue, too. But that's a reason to engage with the report, not to lump it with Greek austerity.