The Debt-Limit Fight, “Cut, Cap, and Balance,” and Rescuing America from Greek-Style Fiscal Collapse

Here’s a new video from the Cato Institute, featuring my pearls of wisdom, along with equally sage commentary from my colleague Chris Edwards.

We make two simple points. First, America faces a Greek-style fiscal crisis if we leave the federal budget on autopilot (actually, it will be worse since we won’t get a bailout from the IMF).

Second, the country can be saved from this fate with relatively modest spending restraint. Genuine spending cuts would be preferable, of course, but merely slowing the growth of spending can put America on a sustainable path.

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