iamwhatiseem
Diamond Member
Read and weep.
The joint committee's logic on the national debt is basically this:
"We know we are in trouble, in fact real trouble...indeed the debt is reaching a point in where together with entitlements - we are approaching a POINT OF NO RETURN..where the only out come is long-term deep recession...but we are not going to really study that...it is too scary, so let's just keep spending".
The joint committee's logic on the national debt is basically this:
"We know we are in trouble, in fact real trouble...indeed the debt is reaching a point in where together with entitlements - we are approaching a POINT OF NO RETURN..where the only out come is long-term deep recession...but we are not going to really study that...it is too scary, so let's just keep spending".
"We know that the debt is now 100 percent -- approximately 100 percent of (gross domestic product)," said Allan Meltzer, a professor of political economy at Carnegie Mellon University in Pittsburgh. "That doesn't include the unfunded liabilities. It doesn't include (mortgage lenders)Fannie Mae and Freddie Mac. It doesn't include quite a number of other things."
....meaning that much more is promised in benefits than the government -- and taxpayers -- have as a plan to pay for them.
Read more: Committee Searches For Economic 'Tipping Point'; Prefer Not To Find It | Fox News