Sunday, March 27, 2011

Pew says ONLY LARGE spending cuts OR tax hikes will stabilize debt?

That Pew gang doesn't let anything slip past them.

Pew analysts now believe that reducing the national debt to a sustainable level by 2025 through discretionary spending alone would require a 70 percent across-the-board cut in 2016, instead of the 43 percent cut in 2015 cited in the original report. That would mean cutting a total of $995 billion, or the equivalent of permanently eliminating all defense spending, plus cutting an extra $220 billion elsewhere in the federal budget in 2016.