by Barbara Hollingsworth, CNSnews:
Douglas Holtz-Eakin, the former head of the President’s Council of Economic Advisers, says that if Republicans and Democrats can’t agree on a budget with significant spending cuts, “spending just keeps going up in an uninterrupted fashion as far as the eye can see. By 2016, all you can see is unending red ink.”
He added that he has little confidence that the congressional budget committee meeting officially for just the second time on Wednesday will be able to agree on a budget for the rest of the fiscal year that puts the federal government on an economically sustainable course by the December 13th deadline.
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