But I'm not worried. After reading this report from the Tax Policy Center, I feel snug as bug in a rug:
Reid went on to say that "We're [Democrats] betting on success." Awesome. They're betting on success? Yeah, that's what I want. A government that gambles with the economic future of America. Yup. Everything's going to be just fine.
In 2009, the federal deficit will be larger as a share of the economy than at any time since the 1940s. After 2009, we project an average deficit of $1 trillion per year for the next 10 years, under optimistic assumptions. The longer-run picture is even bleaker, with a fiscal gap of 7-9 percent of GDP -- between $1 trillion and $1.3 trillion annually in current dollars. Recent trends in credit default swap markets suggest that although fiscal policy problems are usually described as medium- and long-term issues, these problems may be upon us much sooner than previously expected.