Forecasts of a 2010 fiscal-year deficit of $1.6 trillion, a shade of red never before seen in the federal accounts, sent statesmen to the airwaves and pundits to their keyboards. President Obama condemned the obstructionism of the Republican Party in his State of the Union address: "Just saying no to everything may be good short-term politics, but it's not leadership." Newspaper columnists denounced Congress, especially the Senate, where it takes 60 ayes to block a filibuster. How this country came to such a sorry fiscal pass is a very good question, and we happen to have an answer. . .

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