The Congressional Budget Office estimates of budgetary deficits over the next five to ten years boggles the mind. What it points up is simply the need to scale back the expenditures of government, or raise taxes. One or the other. We cannot keep going in this direction, recession or no recession. It is not sustainable. It is simply continuing the mistakes of the past, the notion that we can borrow our way out of our problems, or get something for nothing.
And I have to say also that Republicans who are now deficit-hawks are nothing but hypocrites, unless they were saying the same thing during the Bush administration (which most of them weren't).
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