State of the Union

The President as CEO. [Link]

The US government's situation is not quite that bad.  But it's pretty bad.  The underlying economy is, I think, ultimately fine, but the structural problems with the government's finances are driving it rapidly towards an unpleasant denouement.  Like a CEO with a stuck company, however, he can't just say that.  Stating the obvious would make things worse, as customers and creditors decide that the end really is nigh, and it's time to get out while they still can.

So what do those CEOs do?  They spend a lot of time talking about their company's proud history, even if that history only stretches back a few years. They lavish extravagent praise on their awesome, dedicated workforce.  And they deftly avoid talking about the big problems, for which they have no solutions, by talking about strategic areas for potential growth ("green jobs"), and going over a laundry list of new initiatives that do nothing to solve any of the core problems.  When they are forced to talk about the core problems--and if the company is big enough to attract analyst coverage, they will rudely draw his attention to the problematic areas on the financial statements during the Q&A--he responds in vague generalities that restate the problem as if doing so constituted a solution:

To put us on solid ground, we should also find a bipartisan solution to strengthen Social Security for future generations. And we must do it without putting at risk current retirees, the most vulnerable, or people with disabilities; without slashing benefits for future generations; and without subjecting Americans' guaranteed retirement income to the whims of the stock market.