Monday, September 30, 2013

The Real Debt Ceiling Problem

The deadline to pass a continuing resolution ( which is not a “budget,” although some in the media keep calling it that) is required by the fact that the federal government is nearly $17 trillion in debt, and Democrats don’t want to do anything about that problem. The government is spending more money than it takes in, and this addiction to deficit spending — about $1.86 billion a day — is the underlying reality that the media don’t want you to think about. To put this into perspective, I stated three basic facts on Twitter:

The numbers are staggering when you actually lay them out. Something that can't go on forever, won't, but the longer it goes on, the harder the bump at the end.

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