It's hard to keep up with all the arguments and proposals in the debt limit struggle. But what's at stake is fundamental.
The bedrock issue is whether we should have a larger and more expensive federal government. Over many years, federal spending has averaged about 20 percent of gross domestic product.
The Obama Democrats have raised that to 24 or 25 percent. And the president's budget projects that that percentage will stay the same or increase far into the future."
Monday, July 18, 2011
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