Red ink will continue to flow in Washington
The fact all these news outlets seem to miss, is that the South controls the United States government. And whenever the South is in control, the spending is ceaseless, and it’s tilted toward the South. (As it always is, by the way.)
They say that Bush has overseen the greatest “real” (i.e. inflation-adjusted) increase in spending since Lyndon Johnson. Well, guess what? Both came from Texas.
Both agitated to start a war, too . . .
Both expanded Medicare . . .
I can hardly see either house of Congress deciding to cut back on any Congressional spending. It will only happen when it gets pushed to a crisis point, or there is some sense that the rising interest payments are going to “crowd out” some other desired spending.
With the way the Chinese and Japanese central banks are buying our Treasury Notes, don’t be too surprised if sometime in the 2010’s, the call that gets made to fix the problem or else—-comes from the Far East!