Jan. 10 (Bloomberg) -- It is sad, but telling, that the
economist James Buchanan died just as Congress was finishing up
the details of its budget deal. Or, for that matter, that this
93-year-old Nobel Memorial Prize winner left us just as the U.S.
entered the stage of enforcement of its new health-care law.
Almost everyone involved in the budget deal agrees that it
is more a product of interest groups than a principled
construct. The same can be said for Obamacare.