President Donald Trump's new budget confirms that without corrective action, trillion-dollar deficits will be with us for years and perhaps decades to come. Trump's budget plan has many smart and urgent spending reforms. But will Congress ignore them once again? Alas, probably, but the longer we wait, the shorter the debt bomb fuse. But step one in solving this crisis is to recognize the facts about it and to dispel the pervasive mythologies about what caused this ocean of systemic borrowing and how best to deal with it. Myth 1: Trump created these deficits. No, no, no. These were the...