In Washington, budget deficits stretch out as far as the eye can see. They could be closed by some combination of spending cuts and tax increases. But this Congress, like those before it and, sadly, most likely those that will follow, cannot agree on such matters.
So, borrowing a page from dystopian literature, I would like to suggest that Washington admit this new reality by creating another accounting system. It will be called YTC for short, and stands for Years to Collapse.
Instead of meaningful discussion and, yes, actual adoption of needed fiscal changes, the federal government instead will focus on how long it can wait to act before a calamitous outcome occurs.
It's clear we are already governing in this manner. Our crumbling physical infrastructure—roads, bridges, navigable waterways and the like—will be allowed to continue deteriorating until its YTC reading has reached crisis state.
