Notes on the Atrocities
Like a 100-watt radio station, broadcasting to the dozens...

Monday, December 29, 2003  

The Congressional Budget Office (those radical nonpartisans) has a new report out on the state of the long-term budget outlook. Do I even need to say this?

It doesn't look good.

If taxation is restricted to the levels that prevailed in the past, the growth of entitlement spending will have to be substantially reduced. Restricting the growth of outlays for defense, education, transportation, and other discretionary programs would not be enough to ensure fiscal sustainability.

Likewise, economic growth alone is unlikely to bring the nation's long-term fiscal position into balance.

From the Executive Summary (.pdf).

But of course, these things won't become profoundly obvious until after next November. By then, Republicans hope to have safely installed a plutocracy to ensure that it won't matter.

posted by Jeff | 1:06 PM |
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