Budget Deficit, Birthday Suit Surplus

The White House-appointed deficit commission is capable of providing the Obama administration with the cover it needs to make difficult policy decisions that will improve the long-term fiscal health of the nation.

Yet, despite a massive deficit the commission won’t be making any recommendations until December, well after the midterm elections. Perhaps it didn’t work out so well in the fairy tale, but this emperor could benefit from some new clothes.

The Daily Reckoning