"We are incentivizing financial unsustainability."
"An economically illiterate narcissist in the Oval Office is never going to rein in unsustainable spending in any meaningful sense."
So says Mark Steyn at National Review Online.
"National Review’s Jim Geraghty sums up Obama’s America thus: “Unsustainable is the new normal.” Indeed. The other day, Douglas Elmendorf, director of the Congressional Budget Office, described current deficits as “unsustainable.” So let’s make them even more so. The president tells us, with a straight face, that his grossly irresponsible profligate wastrel of a predecessor took the federal budget on an eight-year joyride, so the only way his sober, fiscally prudent successor can get things under control is to grab the throttle and crank it up to what Mel Brooks in Spaceballs (which seems the appropriate comparison) called “Ludicrous Speed.”"
Read it all, Steyn lays out some grim possibilities if we don't rein in this "unsustainable" spending.