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The Obama Bankruptcy

ADVANCE EDITORIAL from the August 17, 2012 issue.

12:00 AM, Aug 17, 2012 • By IRWIN M. STELZER
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There you have it: Obama, bankruptcy, and an unpleasant, forced end to entitlements as we know them, or Romney-Ryan and the preservation of entitlements that protect the elderly and disadvantaged, and that are sustainable for generations to come. Like Walter Matthau, Barack Obama is out of money, and has no plan to cut spending or to raise more without throwing us into another recession or worse. Unless he plans to find the equivalent of a rich widow, he should leash his attack dogs and offer some positive alternative to what Romney and Ryan are offering, rather than more of the policies that have brought us so close to financial disaster. Negative ads and squabbles over details are diversions from a debate over how to enable entitlements to accommodate our changing demographics and straitened finances, and a discussion of who would take the nation in the right direction. That is our real entitlement: to a debate on the relative merits of Obama’s “plan” to do nothing and Paul Ryan’s plan for reform.

—Irwin M. Stelzer

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