The Washington Post piece on the new long-term budget projections from the Congressional Budget Office (CBO) began:
"The national debt will exceed the size of the entire U.S. economy by 2021 — and balloon to nearly 200 percent of GDP within 25 years — without dramatic cuts to federal health and retirement programs or steep tax increases, congressional budget analysts said Wednesday."
Actually, this is not what the projections showed. The CBO projections showed that if Congress simply...
Published on June 23, 2011 03:08