No Escape From Washington’s Fiscal Doomsday Machine

If you don’t think Washington is in the maws of a Fiscal Doomsday Machine, think again.

And the place to start is with the 30-year CBO projections—expressed as the dollar increase from the current $29 trillion level of publicly held US Treasury debt.

To wit, if Washington does nothing except leave current tax, spending and structural deficit policies in place (i.e. baseline policy), the publicly-held debt will grow by $102 trillion over the next three decades, reaching a staggering 154% of what would be $85 trillion of GDP by 2054.

Moreover, that outcome assumes that Rosy Scenario does not loose her footing for even a moment through the middle…

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