January 30, 2015 6 a.m.
Oh, the debt. Yawn. How passé. How 2009. Once, President Obama held a summit on fiscal responsibility (2009). Once, he gave an entire speech devoted to the subject (2011). Once, his State of the Union addresses (2010, 2011, 2013) were studded with double-digit references to the problem of sky-high deficits and lingering mountains of debt. Now, the topic receives just glancing mention, a clause ("shrinking deficits") in a series of presidential back-pats, and a refutation of warnings of Apocalypse Soon.