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Thursday, August 4, 2011

The Debt Disaster

The debt agreement this week guaranteed that the deficit will rise. It may, in fact, make default inevitable. When your baseline government spending rises, you can't call it a reduction. As the article says, the U.S. has a mortal wound and the bandaid just ain't going to stop the bleeding artery.

The debt ceiling agreement: a fiscal band-aid on mortal wounds

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