““The CBO’s latest Long Term Outlook in June estimated that total tax revenues would have to double by mid-century in order to finance our current spending path,” Ryan wrote. Yes, DOUBLE.
Health-care costs, which rose 8 percent this year and are projected to rise anther 8.5 percent in 2012, are leading the pack.
Democrats have done a great job of demagoguing the Medicare issue in particular and Ryan’s proposals for putting it a more stable path, but they haven’t come up with a solution. He urged Democrats to “give the American people the debate they deserve.”
And with S&P breathing down the nation’s neck, isn’t it about time”