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Solutions for America: Reining in Runaway Spending and Deficits

The Obama Administration has used the recession as an excuse for a historic and permanent expansion of government and deficits. Only during the height of World War II has Washington matched current levels of spending (25% of GDP) and deficits (10% of GDP). Even after the recession, runaway spending is expected to keep annual budget deficits over $1 trillion, which could result in sharply higher interest rates, painful tax increases, and even a Greece-like economic crisis. Beyond our own economic consequences, dumping this staggering debt on future generations would be absolutely immoral. ....

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