Nearly all the great minds in America seem to agree. The smart, strategic, ideal budget policy for the United States just now, we're told, would take action to avoid sharp and immediate tax hikes or spending cuts. While these would reduce the ponderous federal deficit, the danger is too great that the resulting "fiscal drag" could trip up a still-gimpy economic recovery.
But at the very same time, say just about all the great minds, the nation must commit itself -- with an iron-clad resolve -- to tough-minded, long-term deficit and debt reduction beginning in the not-too-distant future, when the economy will be better able to bear the burden.
No doubt all this is splendid advice in light of our economic circumstances. But in light of human nature and the nature of politics, it could merely be high-quality wishful thinking.
In the long, silly history of our species, has there ever been a human being with a lousy habit to break who wasn't eager to adopt exactly this type of strategic plan -- indulge today, abstain tomorrow?
"Nobody can lose weight during the holidays. Right after the new year, I'll go on that caveman diet."
"I'm finished with gambling for good. I just need to win back what I lost first."
"Things are a little stressful right now. I'll quit smoking after the election."
Most of us recognize this sort of childlike moonshine in regular life -- at least when it's coming from somebody else. But place it in the public-policy arena, detailed as part of multipronged program to restore America's greatness, and we fall for it almost every time.