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America’s Ungovernable Budget

NEW YORK – The heart of any government is found in its budget. Politicians can make endless promises, but if the budget doesn’t add up, politics is little more than mere words.

The United States is now caught in such a bind. In his recent State of the Union address, President Barack Obama painted a convincing picture of modern, twenty-first-century government. His Republican Party opponents complained that Obama’s proposals would bust the budget. But the truth is that both parties are hiding from the reality: without more taxes, a modern, competitive US economy is not possible.