The real crisis
The current problems with mortgage-backed securities do not constitute an economic crisis. The real crisis is coming ten to twenty years down the road, as a direct and inevitable consequence of America’s addiction to entitlements and its dependence on government as problem-solver of first resort. In this clip from 60 Minutes, US Comptroller General David Walker demonstrates leadership on the issue. Enjoy the spectacle, if only for its rarity–you will see no such leadership from the Presidential candidates of either major party.