Morally bankrupt? Sure, you could argument that. Some have for many years. But a new Treasury Department report (just in time for federal income tax due day), interpreted here by a University of Texas accounting professor, shows fiscal bankruptcy before 2080. Fortunately, that’s almost geologic time, in political terms. Except that our current crop of politicians hasn’t the guts to do anything about it.
Via Instapundit.
THE TEXAS SCRIBBLER 