Debt Debate and Political Theatre

 

The reality of the Debt Debate, now playing in our political theater:

What would it take to reduce spending?  A Republican President, House and Senate.  And they must all agree to stop spending.  The $13 trillion assumes no new spending, and collecting all the projected tax revenue.  But a recession will reduce tax revenue.  And a recession will put more pressure on politicians to spend on social safety nets like unemployment insurance and jobs bills.

The red balloon will grow.

NPR: $13 Trillion: The Projected 10-Year Deficit

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