This is crap! They need to cut. Starting with their overblown salaries and expense accounts. No more vacations for Obama. Time to eat YOUR peas ladies & gentlemen!
These people are crazy. You just need to project out the effect of borrowing 1/2 trillion to one trillion a year on interest only loans, and never planning on paying the principle. It is a predictable trajectory to when all your income goes to pay interest. Why would anyone loan money after that point is reached? It would amount to them funding something for free with no hope ever of getting their money back.
Any balanced budget amendment must read “borrowed money does not balance a budget”.