The SanityPrompt

This blog represents some small and occasional efforts to add a note of sanity to discussions of politics and policy. This blog best viewed with Internet Explorer @ 1024x768

Tuesday, November 15, 2005

As a Nation, We are New Orleans in the Face of Katrina - Does Anybody Care?

A 'fiscal hurricane' on the horizon - From USA TODAY

Sadly, it's no laughing matter. To hear Walker, the nation's top auditor, tell it, the United States can be likened to Rome before the fall of the empire. Its financial condition is "worse than advertised," he says. It has a "broken business model." It faces deficits in its budget, its balance of payments, its savings - and its leadership.

Walker's not the only one saying it. As Congress and the White House struggle to trim up to $50 billion from the federal budget over five years - just 3% of the $1.6 trillion in deficits projected for that period - budget experts say the nation soon could face its worst fiscal crisis since at least 1983, when Social Security bordered on bankruptcy.



0 Comments:

Post a Comment

Links to this post:

<\$BlogItemBacklinkCreate\$>

<< Home