For being the richest nation in history, the U.S. still has a lot to learn about money. For almost 50 years, the federal government has spent more—often much more—than it took in. Continuing that pattern for another 10 or 20 years would lead to economic disaster.

But the problem is not merely financial; it is also moral, as we see in the two political proposals for the 2012 national budget. Read More