In his seminal work, Parliament of Whores, P.J. O'Rourke had an absolutely brilliant chapter called (if memory serves), "How the F... Can They Spend That Much Money!" This new analysis from The Heritage Foundation lays out a pretty good idea about how much we're going to have to cut spending to get back to zero deficits.
The answer? A lot.
If you're one of my avid reader (ed: yes, I meant reader), then you'll know that I think government spending always crowds out private spending. A strong private economy will not resurface until the government starts to cut back. Here's hoping.
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