Bear Flag Republic Radio WeblogLiving out on the left coast |
| Last modified: |
|
8/7/04; 2:24:01 PM |
| Feeds: |
|
LIVE webcam Cumbres & Toltec rail yard in Chama, New Mexico.
Current BlogRoll.
[Macro error: The server, api.google.com, returned a SOAP-ENV:Server fault: Exception from service object: Invalid authorization key:]
|
|
Sunday, January 18, 2004
Rubin's deficit report (PDF). Basically, it projects that on our current course we will go bankrupt around ~2040. At that point debt payments accelerate beyond our ability to pay them. Much of the spending identified in the report is locked in. What is troubling is that these projections don't take into account potential crisis situations (like 9/11, Iraq, financial shocks, etc.) that can radically increase short term deficits. Of course, this probably won't happen. Don't bet against America. Unfortunately, the current fiscal mess is going to make the clean-up much harder. Deficits do matter. [John Robb's Weblog]
comments < 5:21:51 PM 
> |
| Archive: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|