TightWind is written by Kyle Baxter. Stay Hungry. Stay Foolish.

Megan McArdle:

We’re obviously nowhere near Italian levels of debt.  But the inability to make even quite small changes in our levels of taxes or spending should worry the hell out of everyone.  Yes, yes, I know–the other side is evil and intransigent and you don’t trust them anyway.  The fact remains that we’re married to those jerks in the other party, and there’s no prospect of divorce.  “Stick to your guns, dammit!” is not a workable policy agenda for either side . . . and no, I don’t really care how much better things could be if we were more like Europe/19th century America.  Given events in Europe, this doesn’t really seem like a good time to be talking up the virtues of larger welfare states or a weak central bank.