Commentary: The Budget Bungle Will Cost America Dearly

Somewhere between the partisan bickering that caused shutdown II in January and Pat Buchanan's fear-mongering in February, Washington flubbed a golden opportunity to enhance the economy's near-term outlook and solidify its long-term future as the world's most competitive economy. The failure of Congress and the White House to reach an agreement on balancing the budget is more than just another sad comment on Washington's ineptitude. It's adding to the risk of a recession.

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