Budget Crisis: Republicans Have Supercharged Deficits and Fiscal Woes

Faced with soaring deficits, an aging population, a teetering pension system, unsustainable health-care obligations, $1 trillion in annual interest costs, rising long-term bond yields and net public debt at around 100% of gross domestic product, what’s a country to do?For the 119th Congress, the answer has been simple: Tax less and borrow more. As Republican leaders ponder yet another party-line spending bill — expected to include at least $95 billion in new outlays with no offsetting revenue —