D G Wrote:
Feb 25, 2013 8:48 PM
Spending growth is nearly double the rate of the growth of the economy over the past 12 years. Revenue can not be expected to grow faster than the economy. Therefore, spending growth is excessive. The growth rate for spending must be slowed. Most of the growth in dollars of spending is for the old entitlement programs which grow automatically with inflation and with population. The entitlement programs must be reformed to slow their growth and to prevent a complete financial collapse of the US government. About 90% of the accumulated debt can be explained with the growth of spending for entitlement programs.