“Once recovery is gained, however, Congress must end the rise in the debt-to-GDP ratio and keep our growth in obligations in line with our growth in resources,” Buffett said. “With government expenditures now running 185 percent of receipts, truly major changes in both taxes and outlays will be required. A revived economy can’t come close to bridging that sort of gap.”
Too bad there is no political party that understands 'changes.....in outlays', eh?
Don't pitch your TEA Party gear. It will be required often in the near future.
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