The other reason you shouldn't expect much in the way of radical new plans [after the election] is that we are now officially out of money. The recession is still grinding down tax revenues, and the bills for long-promised entitlements are coming due. There's no cash in the till for big tax cuts or new spending. And while there might be some shift in emphasis as to how we ultimately resolve our budget crunch, Obama does not have negotiating room to raise it all with a massive tax on Warren Buffett, and Romney is hardly going to get much support for turning Social Security into a free coupon for half-priced beverages at Denny's. The zone of possible agreement is actually pretty small, and either man is going to find himself stuck with a solution that neither he, nor you, will very much like.
You see, there is a till and when it is empty America has run out of money. It's not like we can just "print" more.
McArdle has to be lying; she cannot possibly be ignorant of monetary sovereignty.