EA's US Politics and Economy Special: A Half-Time Reality Check on the Federal Budget
Sunday, March 6, 2011 at 8:22
It may be that those who are arguing the debt is unsustainable are just doommongers, panicked needlessly by deficits caused by this relatively short-term blip in the economy. Undoubtedly the present deficit numbers have been made worse by more people receiving benefits from the entitlement programs, and less people paying taxes. But, even recognising that possibility, the numbers being presented in various reports on America's fiscal future are sobering reading.
The issue is only going to grow in importance over the next few months, and the partisan extremes in both parties are readying themselves for the mammoth struggle ahead. What we have seen recently are petty squabbles compared to the brouhaha that will erupt when the Americans from The New York Times poll finally realise what is actually at stake in the forthcoming discussions on the debt crisis.