“Read the history of great nations. Read how they succeed and read how they fail. Their ability to mobilize to solve problems before they are absolutely imminent crises is what determines their longevity.” — Larry Summers
That comment from Summers, who is President Obama’s top economic adviser, were part of a speech Tuesday on energy policy. But the sentiments expressed are more germane to the topic of the nation’s debt and entitlements crisis.
If the Obama administration and the Congress are unable to deal in the next few years (if they have that much time) with the fast-approaching problem of unfunded mandates (Medicare, Medicaid and Social Security), quotes like these will come back to haunt them, and the rest of us, for perpetuity.