Financial

To the displeasure of many on both sides of aisle, President Obama on Monday will host the so-called Fiscal Responsibility Summit at the White House. While some Democrats question the timing of Obama's expenditure of political capital on Social Security, Medicare and other entitlement reform, obstructionist Republicans are ridiculing the event even as they hype the myth of Republican fiscal discipline.

And a myth it surely is. Far from the deficit hawks of Republican legend, the modern Republican Party from Reagan forward devastated the U.S. treasury, leaving mounting debt and hemorrhaging red ink for as far as the eye can see.

As the history of the past 30 years shows, those people "willing to point out the problem" are called Republicans. The ones doing something about it are called Democrats.