On the recordJune 15, 2010
The chart I have to my left, the viewer's right, is exactly illustrating what the gentleman has just been discussing. If you look at the spread between spending and taxes that occurs on the far side of the dotted line, that shows you what is projected into the future. That spread between spending and taxes going into the future is enormous and consistent. And if you look at what that produces in terms of deficits, look at the bottom line, the red line again on the far side away from me from the dotted line, and you can see that deficits are projected into the future. When we say unsustainable, that's what we mean. The long-term consequences to this country is that our children and grandchildren will inherit the consequences of our reckless behavior. How do we resolve this?
