That’s a very real prospect, argue Congressman Charles Stenholm and former Congressman Tim Penney in this piece in Investor’s Business Daily.
The problem, of course, is the stupendous unfunded liabilities Washington faces in its entitlement promises.
When Social Security, Medicare, and similar programs were debated, a few people said, “Spending is apt to get out of control.” Those people were ignored. They were right and now we have to face the consequences.
