Today the Economic Report of the President was released. As I remember the report in past years, the introductory chapter was typically political, while the rest of the report is focused purely on economics. These chapters often have been very educational, the sort of thing that you recommend to students.

Not any more. The chapter on “restoring fiscal sustainability” is pretty much devoid of serious economics. It is all about blaming everything on George Bush. Even if that is completely justified, the chapter ought to spell out options for attaining long-term fiscal sustainability. It doesn’t.