As financial Armageddon looms for Europe and the US our politicians seem incapable of steering our ship of state through the icebergs of catastrophic spending and borrowing. – Washington Examiner

 

Washington Examiner editorial

EXCERPTS:

… not soon after the ball drops in Times Square, the U.S. will join Greece and Italy in the ranks of countries whose total debt obligations are larger than their entire economies.

 

According to the Congressional Budget Office, federal spending rose from $3.45 trillion in 2010 to an estimated $3.59 trillion in 2011. So much for the age of austerity.

 

In total, Coburn identified $6.9 billion worth of what can only be charitably described as government waste.

 

If America’s leaders can’t find waste in a $3.6 trillion budget, what hope do they have of instituting real spending reform?

 

FULL ARTICLE

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