Partisan Finger-Pointing Misses Real Deficit Story: BGOV Insight

The federal deficit is a politically charged and highly partisan issue. Yet too little of the debate is based on what actually caused the budget to go so deeply into the red. Democrats blame the Bush-era tax cuts and the wars in Iraq and Afghanistan, while Republicans point the finger at stimulus measures and runaway domestic spending.

Both sides miss the mark. A closer analysis of what’s changed in the U.S. fiscal landscape offers a clearer way to think about the deficit and, most importantly, a more practical way to do something about it.