Prometheus 6

Quote of note:

The federal budget is in crisis thanks to unwarranted tax cuts, unbounded entitlements, and open-ended commitments for hurricanes and homeland defense. But the budget does not recognize assets; it recognizes only expenditures and liabilities. Under the rules as we have them, the Louisiana Purchase would have been accounted for on the basis of the debt issued to Napoleon, with no recognition of the astounding value created.

It's Time to Rebuild America
A Plan for Spending More -- and Wisely -- on Our Decaying Infrastructure
By Felix G. Rohatyn and Warren Rudman
Tuesday, December 13, 2005; A27