We are reaching a point where servicing the debt is becoming a serious liablity and if we tip the point of equilibrium where interest payments on the debt chew up most of the tax income - we are toast. Of course as Dan accurately points out we would not be in this mess if spending was curtailed. Obviously the current Constitution does not do a good job, so we need to consider an amendment that significantly limits Federal spending.
We are reaching a point where servicing the debt is becoming a serious liablity and if we tip the point of equilibrium where interest payments on the debt chew up most of the tax income - we are toast. Of course as Dan accurately points out we would not be in this mess if spending was curtailed. Obviously the current Constitution does not do a good job, so we need to consider an amendment that significantly limits Federal spending.
depression2.0
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A message about big government spending from Dan Mitchell.
2009-12-21T13:19:00-05:00
Arkady
depression2.0|
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