Roanoke Times Copyright (c) 1995, Landmark Communications, Inc. DATE: MONDAY, August 8, 1994 TAG: 9409020015 SECTION: EDITORIAL PAGE: A4 EDITION: METRO SOURCE: DATELINE: LENGTH: Short
Even so, the lesson is worth repeating over and over, because its unpleasantness makes it such a hard one to learn.
The draft, issued Thursday, projects that by the year 2012 entitlements and debt service (in a sense, also an entitlement program) will eat up every tax dollar collected - leaving nothing for, say, national parks or the defense of the country.
The specific numbers may be open to argument, but few serious students of fiscal policy would dispute the trend.
Can that trend be reversed? Sure.
Declining deficits during the first 18 months of the Clinton presidency have marked progress of sorts; without the declines, the outlook would be even worse. But as the report makes clear, that isn't nearly enough.
Meeting the challenge will require a political class less prone to pandering. It also will require a public less inclined to squawk about any reduction in entitlement benefits, and about every proposal to raise taxes to pay for the spending that's demanded.
by CNB