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A Ticking Time Bomb
ByEzra Klein plucks out this paragraph from a report by the Center On Budget and Policy Priorities:
If we continue current policies, the federal debt will skyrocket from a projected 46 percent of the gross domestic product (GDP) at the end of fiscal year 2009 to 279 percent of GDP in 2050. That would be more than two and a half times the existing record (which was set when the debt reached 110 percent of GDP at the end of World War II) and would threaten serious harm to the economy.
Ah, Republicanism.
