Resistance Begins at Ohm!

Sunday, April 18, 2010

Buyers remorse

Or maybe voters remorse. Like that horrible hang-over feeling followed by the gut-wrenching realization that you've awaken to find a coyote sleeping next to you. You didn't drink too much, you spent too much and now your options for the future are dramatically changed.

Here is the reality of the spending orgy we've been on. Barack says that we can't get over deficit spending soon, but under his plan, we will never get back to where we were in 05-07, even with fighting two wars, medicare part D, Katrina and assorted other off-budget items.

citation: Washington Post

Those red lines add up, year after year, each becoming part of the national debt.

Citation: CBO Director's Blog
There is no do-over (except doing health care right instead of doubling the cost) and there is no easy fix. We cannot sustain entitlements, even if we quit spending on all the other stuff (agriculture, transportation, research) and quit fighting wars. Just social security, medicare and medicaid will consume the income in the not distant future.

This is an interesting article on the situation and what we can do to reverse the trend, or "bend the curve" as the Obaminator likes to say.

There is no easy fix to the budget mess

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