Five Big Challenges In 2013 That Dwarf The Fiscal Cliff

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Investors Business Daily:

National Agenda: Discussion of the so-called fiscal cliff has sucked so much air out of the room that many people don't realize it's not the biggest thing we face as a nation. Indeed, many challenges loom. Will we be up to them?

The way the talks surrounding the cliff were handled doesn't inspire confidence. And the "deal" that avoids the cliff — more tax hikes, higher spending, no cuts at all — is the worst possible.

This was entirely a political crisis — not an economic or even fiscal one.

The Democrats created it in 2003 by refusing to make President Bush's tax cuts permanent. Ever since, they have used the threat of tax hikes on a broad swath of Americans as a political bludgeon against the Republicans.

It's worked. Despite being an entirely Democratic contrivance, the fiscal cliff is blamed by a majority of Americans on the GOP — kind of like blaming the firemen who try to put out a fire for starting the blaze in the first place.

Even after resolving the cliff issue, America can't rest easy. Major issues remain outstanding that either must be dealt with in the coming year or at least begin to be addressed. And all have at least one thing in common: They are components of the sustained surge in spending at the federal level that threatens the economic health of our nation for decades to come.