Tuesday, December 04, 2012

Republicans are attempting to divert the nation — not from the “fiscal cliff” but from something much worse...

If government debt is not controlled by spending cuts (tax increases on the rich make scarcely a dent), the U.S. is headed for drastic economic decline. Interest rates will rise to attract wary international investors. Rising interest rates will in turn increase our debt service burden, while a diminished private sector will provide less and less tax revenue. The combination of spiraling debt service and entitlement spending will quickly leave no funds for any other purpose.
Think: Mad Max

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