The Good News is That It's All Bad News

Twice now I've heard news reports that mention, in rapid succession, two awful things. 

One, the deficit is once again over $1 trillion. This promises to become a calamity.

Two, we're about to "go over a fiscal cliff" when budget cuts and tax hikes are automatically triggered in January. This promises to become a calamity.

The media apparently loves this situation. If we don't do anything about the deficit, they can holler that the sky is falling. If we do something about the deficit, they can holler that the sky is falling.

Perhaps the double whammy of tax hikes and budget cuts is too much for such a tentative recovery. But 4 years after the recession's trough, it might be time to begin whittling down the deficit. 

Reporters latch on to the bad in news.

This blogger latches on to the good in news. Either we do nothing about the deficit and the current recovery is stronger. Or we do something about the deficit and the future is less expensive.