Levin is right about the republican party playing on the democrat playing filed because the modern republicans ARE DEMOCRATS! Modern democrats are socialists (some most likely are closet communists), both are progressives! This one party rule has the nation on a destructive economic course that if we stay the course....
CBO Dire Debt Warnings Show Nation's Democrat Future
Big Government: The Congressional Budget Office warns of a terrifying, unprecedented level of national debt in the coming decade. That fits nicely with Democrats' objectives, but not with our nation's founding principles.
Andrew Jackson, who in 1835 succeeded in paying off the national debt, was famous for considering debt slavery. The current fiscal path the U.S. is on does indeed lead to slavery, but the slave masters of the future will be well-heeled politicians and federal bureaucrats, not plantation owners.
The CBO's new budget projections contain an eerie warning that we are on path from today's already unfathomable $17.7 trillion in gross federal government debt to more than $27 trillion in 2024. This in spite of finger-crossing projections of tax revenue over the next decade exceeding its 40-year average as a share of GDP.
Debt will reach 78% of GDP by 2024, CBO warns, which is double the 39% average of the past 40 years.
The consequences will include big hikes in spending on interest payments on the debt when interest rates go back up. That, in turn, would increase the cost of investment and "the capital stock would be smaller, and productivity and wages lower, than if federal borrowing was more limited," the CBO warns...more