Tuesday, July 26, 2011

Does anybody understand the black-hole gravity of our debt problem?

Well, the CBO scored John Boehner's debt-reduction plan and announced it will save $850 billion over a decade.

Big whoop. Thanks to entitlement programs, the national debt is poised to double over the next 10 years and we can't even hit a trillion dollars in cuts? Not even in imaginary, fairyland spending cuts that probably won't happen?

As Megan McArdle wrote: We're doomed.

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