On November 21st Power and Money discusses the Debt Super Committee’s failure to reach an agreement. Lenore’s perspective:
Congress has put themselves into an impossible situation because the majority of them operate with flawed base premises. Most of those in DC believe that government is the only legitimate provider of a vast array of services for Americans and is thus morally obligated to do so. They also believe that the majority of our social and financial problems can only be solved by more government spending. If you hold these premises to be true, then it is impossible to reduce government spending in any meaningful way and no amount of market pressure can fix that.