Thought You'd Like to Know

The GAO is the government's watchdog and is tasked with reporting the unvarnished truth to the American public, although many times it is after the fact. Here is what the GAO said in a report issued January 17, 2013, just a few days ago:

"The Government Accountability Office (GAO) reported that federal spending will drive the national debt to “unsustainable” levels in the coming decades, fueled by ever-rising health care costs and federal entitlement spending.

“The growing fiscal imbalance is driven on the spending side by rising health care costs and the aging of the population,” the GAO said in its report, The Federal Government’s Long-Term Fiscal Outlook, Spring 2012 Update.

Furthermore, "[d]espite limits on discretionary spending that would bring discretionary spending to levels not seen in recent history, our simulations show total federal spending continuing to exceed revenues and feeding an unsustainable growth in debt," states the report."The policy actions required to close the fiscal gap are significant, and changing the long-term outlook will likely require difficult decisions about both federal spending and revenue."

www.breitbart.com/Big-Journalism/2013/01/22/media-Ignores-GAO-Report-Debt-Unsustainable

I am sure glad that this dire warning is getting such widespread media coverage. And also that President Obama set out such a daring plan to deal with it in his inaugural speech. Other than Bill O'Reilly and this story, I haven't heard a peep. Oh well, eat, drink and be merry for tomorrow we...