[Hoot Gibson]

:Clap: ^Great post Hoot

I was about to say the same about your last post. You touched upon the fact that interest rates to finance the debt will rise, and that rise is not reflected in budget and deficit projections being made today.

The increased interest paid on government bonds will be accompanied by a jump in the inflation rate.

Our future will likely be much, much more miserable than the political class will ever dare to publicly predict.

I want to see what cuts Obama is willing to make now and during his remaining time in office. If he wants to fantasize about a second term, those proposed cuts would be of some interest as well. Projected spending cuts in the "out years" that span 10 to 12 years (well beyond Barack Obama's watch) are simply not credible, no matter which party makes such projections.