Thursday, September 6, 2012
Could We Get Real About Deficits?
You may not understand that this is only the tip of the iceberg. The unfunded entitlements run us up 222 trillion and the whole economy only generates about 15 trillion a year. The government spends 25% of GDP but borrows 40% that it spends. This is all a recipe for economic collapse and all the politicians are whistling past the graveyard.
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