budget
At tonight's presidential debate, President Joe Biden made the shocking claim that under his administration, "We finally beat Medicare." It's a remarkable statement from a Democratic president. One would assume Biden would want to tout his preservation of entitlement programs—given that neither party (and particularly not the Democratic party) wants to seriously tackle entitlement reform. Instead, here is the president saying he finally "beat" the largest entitlement program of them all. Odd. The best explanation for Biden's remarks is that it was a passing gaffe. In fact, later in the debate,...
Reason
If you made a list of all the reasons why federal borrowing has spiraled out of control in recent years, the utter failure of Congress to pass a true budget would certainly rank near, or at, the very top. Regular Reason readers know this fact well: Since 1996, Congress has never—yes, not even once—passed a budget on time and in full. It's probably not a coincidence that the late '90s were also the last time the federal budget was anywhere close to balancing. In place of a complete budget, Congress has for decades relied upon continuing resolutions and omnibus bills. Usually, those become "must...
Reason
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