Does anyone see the writing on the deficit wall?

Editorial RENO GAZETTE-JOURNAL: And the deficit keeps growing

"While the Vietnam War was raging, first President Lyndon B. Johnson and then his successor, Richard Nixon, assured us that we could have both guns and butter — that we could fight a distant war without having to make any financial sacrifice. It wasn’t true. The costs of trying to have it both ways, coupled with Nixon’s disastrous attempt to slow inflation with wage and price controls, led to even worse inflation and the downfall (with the help of the OPEC oil embargo) of two presidents, Gerald Ford and Jimmy Carter. Both Johnson and Nixon were history by then, but their actions had serious consequences for the U.S. economy.

The failure of Congress to deal with today’s deficit will have serious consequences, too — maybe not tomorrow or the next day or the next year, but eventually there will be consequences. In the meantime, enjoy the tax cut."