Washington Post editorial, "The Coming Debt Panic":
We're doomed. Adding another gigantic entitlement program? Re-arranging the chairs on the deck of the Titanic.
HT: The Mark Levin ShowConsider: In the space of a single fiscal year, 2009, the debt soared from 41 percent of the gross domestic product to 53 percent. By way of comparison, the average for the past half-century has been 37 percent. This sum, which does not include what the government has borrowed from its own trust funds, is on track to rise to a crushing 85 percent of the economy by 2018. Getting the debt back down to a reasonable level will require extraordinary, almost unimaginable, fiscal discipline and political cooperation. Failing to do so will lower the national standard of living and ultimately threaten America's economic stability.
We're doomed. Adding another gigantic entitlement program? Re-arranging the chairs on the deck of the Titanic.
I am unable to disclose to the entire world honestly how pissed off I am based on the US debt situation. I pray to be able to honestly look our my chidren's children straight in the eye when I am olderand feel somewhat ok about this crazy generation. It is a shame that personal and government debts have totally becomeso pathetically out of our handsthroughout the last few years. Do you feel we will potentially learn our misjudgment? It is apparent that everyone's conception of cash and debt is totally totally insane in America I hope we remain enlightened from the past and never loose sight of it.