As bad as the last five years have been, it's going to get even worse the next five years.
The biggest economic danger of the next 50 years is the coming crisis in entitlement spending. The problem is the entire health care system is in crisis. The entire U.S. health care system needs to be overhauled. If not, it will literally bankrupt the federal government.
It's symbolic progress for Congress to learn that they can terminate programs without the sky falling. Maybe they can come back next year and start terminating programs whose costs make a difference.
dump the largest debt in world history into the laps of the next generation. Within a decade, tax increases would need to reach $7,000 per household (a 37 percent tax hike) just to balance the budget.