Thomas Friedman Shows Some Low Imagination, or At Least Low Comprehension

Thomas Friedman gives the Republicans some well-deserved bashing in his column today, but he also unthinkingly repeats his standard lines:

"The second of our great long-term challenges are our huge debt and entitlement obligations."

Of course our debt has expanded substantially due to the economic devastation caused by the collapse of the housing bubble. It is not at level that poses any great harm to the country as witnessed both by the fact that financial markets are willing to lend the...