We're Broke

Hope you enjoyed your tax cuts and the little Iraq adventure, Republicans.

Your reckless spending and greed are an inspiration to us all.

AP: Bernanke: Budget Deficits Endanger Economy

The persistence of big budget deficits raises risks to the country's long-term economic health and they need to be curbed, says Federal Reserve Chairman Ben Bernanke.

"The prospective increase in the budget deficit will place at risk future living standards of our country," Bernanke said. "As a result, I think it would be very desirable to take concrete steps to lower the prospective path of the deficit."...

Also in that article-

To that end, [Bernanke] was silent on whether Congress should reinstate budget rules from the 1990s. Those rules required that any tax cuts or increases in benefit programs such as Social Security be paid for either by higher taxes or spending cuts elsewhere.

What?! Never! Republicans shall not stand for such sacrifice and responsibility! Away with you!

This is an issue the Democrats should try to get traction on this year. It's still the economy, stupid.

[PS- See also this AP article- Snow warns Congress: US government's cash running out ]