Simpson/Bowles know what's up!

[vox]

http://www.mysanantonio.com/busines...ust-share-sacrifice-2400021.php#ixzz1gWTEZC60

Specific quotes:

“If you spend more than you earn, you lose your butt,”

Bowles said that last year, the country spent all of its revenue on interest on the national debt and entitlement programs such as Social Security, Medicare and Medicaid. Meanwhile, the money to pay for everything else, including wars, defense, education, infrastructure and research, had to be borrowed — and about half of that was borrowed from foreign countries.
“That is crazy,” Bowles said. “It's really nuts.”

“The markets will force us to do this at some time,” Bowles said. “You just can't live beyond your means forever.”

 

[pmbug]

Common sense is not welcome in DC.

 

[vox]

Common sense is not welcome in DC.

True. True.

 

[mmerlinn]

.

if your outgo exceeds your income, then your upkeep will be your downfall. - by earle, bill.

.