America’s uncontrolled debt and spending is the real “Waterloo”

Acton Institute
by Ray Nothstine

10/21/09

Religious left icon Jim Wallis has popularized the maxim, ‘budgets are moral documents.’ Yet the often repeated declaration is true in a way Wallis hasn’t envisioned, signaling bad news for Washington’s big spenders and those stuck footing the bill. Currently this country is facing no greater crisis than out of control spending and a mounting federal debt — a moral problem of prodigious proportions. The Office of Management and Budget is projecting $9 trillion in deficits over the next ten years. Washington’s leaders have long paid lip service to the crisis, but their actions betray their words. The national debt is closing in on $12 trillion and unfunded liabilities like Social Security, Medicare, and other entitlement programs total $60 trillion...

//tinyurl.com/yz7y2de


Informant: Thomas L. Knapp



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