Slash Spending Now!

SEE HERE The problem is too much spending and just passing a balanced budget amendment won't change that. Moreover, the current quantitative easing being conducted by the Fed will lead inexorably to increased inflation which will lead to increased interest rates which leads to higher interest on Federal borrowing which leads to explosive increases in the deficit. If we don't start slashing spending we'll just get to be present for the collapse. I don't know why so many supposedly sensible folks are whistling past the graveyard. Failing to deal with this developing catastrophe will only make it hugely worse. It's caused by irresponsibility at the highest levels and it won't be bandaged over with panaceas. There is only one solution to solve a debt addiction and that's to stop increasing the debt.