May 192005

BIPARTISAN AGREEMENT ON IMPENDING FISCAL DOOM: "There were no cameras, not a single microphone, and no evidence of a lawmaker or Bush administration official in the room," the Washington Post reports. "But what the three spoke about will have greater consequences than the current fuss over filibusters and Tom DeLay’s travel." On Tuesday, the top budget experts from the right-wing Heritage Foundation and the left-leaning Brookings Institution sat down with Comptroller General David M. Walker to raise a red alert about impending "deficits of the scale we’ve never seen in this country or any major in industrialized country [sic]." With "startling unanimity" and "interchangeable" fiscal forecasts, the experts warned that, without titanic shifts in tax and spending levels, the United States "will fall victim to the huge debt and soaring interest rates that collapsed Argentina’s economy and caused riots in its streets a few years ago."

Sorry, the comment form is closed at this time.