Concerned about the growing level of federal debt, you should be. Congress is trying to buy your vote with your future.

Merrily we spend along, spend along

 

Following are excerpts from the Congressional Budget Office Directors Blog on April 26, 2010.

“Given current law and certain possible changes to that law that are generally supported by the Administration and many Members of Congress, the budget deficit and debt are on a worrisome path—unsustainable in the long run and posing growing risks even during the next several years…

If that debt indeed rises toward 90 percent of GDP, it would be entering territory that is unfamiliar to us and to most developed countries in recent years.

Putting U.S. fiscal policy on a safe path would probably require significant changes in spending, revenue, or both. In thinking about changes that might be made, it’s important to understand where most of the revenue will be coming from and where most of the spending will be going.”

Read it and weep and hope somebody in Washington is listening.

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