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13 Nov 2009 09:48 am
"A Fundamental Disconnect"
The CBO tells us what we already knew:
I concluded the talk by emphasizing that fiscal policy is on an
unsustainable path to an extent that cannot be solved by minor
tinkering. The country faces a fundamental disconnect between the
services the people expect the government to provide, particularly in
the form of benefits for older Americans, and the tax revenues that
people are willing to send to the government to finance those services.
That fundamental disconnect will have to be addressed in some way if
the budget is to be placed on a sustainable course.
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