Monday, February 15, 2010

Debt bomb will build even under rosiest Obama scenarios

From Ed Morrissey at Hot Air:

"Here’s your happy thought of the day. Even under the most optimistic scenarios of the Obama administration, the US will hurtle towards a debt crisis resembling that of Greece under the proposed spending initiatives and commitments to entitlement plans made by the White House."

" Americans need to learn that we can’t maintain the Ponzi schemes of entitlement programs we’ve built. We have to greatly reduce our future commitments and our present spending, and start to dismantle the Leviathan of federal bureaucracy that has exploded over the last several decades. Otherwise, the only way we will keep from destroying the Western financial system is to become a command economy with property rights and individual choice becoming relics of a golden age long since passed."

Read it all.

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