Current federal budget trends are capable of destroying this country
The Most Fiscally Irresponsible Government in U.S. History
Excerpt:
... current budgetary trends are capable of destroying the country. As Bowles pointed out, according to a Washington Post report, we can't just grow our way out of this. We can't just tax our way out of this. We have to do what governors do—cut spending or increase revenues in some combination that will begin to pull us back from the cliff.
Obama must know that if he doesn't address this, he will be the president who drove us toward a debt crisis. And so too must Congress, for both have now participated in the most fiscally irresponsible government in American history.
Comment: Scary but true
Good point; I am already of the opinion that our nation is going to need to repudiate some debt (like the Social Security trust fund) in order to avoid budgetary collapse. The quicker we do it, the less we'll need to do, and the lower the chances of a Weimar debacle.
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