Earlier today I blogged about Erskine Bowles’ on-target comments about the national debt, which he deems a “cancer” that “is truly going to destroy the country from within.”
Here is the Washington Post’s story on the same subject, with more comments from Bowles. (emphasis is mine)
“We can’t grow our way out of this,” Bowles said. “We could have decades of double-digit growth and not grow our way out of this enormous debt problem. We can’t tax our way out. . . . The reality is we’ve got to do exactly what you all do every day as governors. We’ve got to cut spending or increase revenues or do some combination of that.”
I repeat what I noted earlier from the Heritage Foundation’s report on federal spending:
Spending has increased 19 percent faster than inflation since 2008.
