'U.S. Fiscal Policy is Unsustainable'

Now they tell us. Would have been nice to get a heads-up before the multi-trillion healthcare scam was shoved down our throats.

Fundamental changes to the federal budget will be needed to rein in unsustainable deficits, Congress’s budget watchdog said Thursday.

“U.S. fiscal policy is unsustainable, and unsustainable to an extent that it can't be solved through minor changes,” Congressional Budget Office (CBO) Director Douglas Elmendorf told reporters at a Christian Science Monitor breakfast.

Spending on Medicare, Medicaid and Social Security, plus defense programs and debt interest, will exceed the rest of the federal budget in 10 years if most of the 2001 and 2003 tax cuts are extended, as President Barack Obama has proposed, Elmendorf said.

One problem: Obama wants to let the Bush tax cuts expire as do House Democrats.

So everyone wants tax increases, of course. Good luck selling that to the electorate this year.