The Next Train Wreck

The NYT applauds Obama's budget with this oxymoron:

Obama Budget Reflects a Cut-and-Invest Agenda

[note:'invest' and 'spend' are synonymous to the NYT]

For the current fiscal year the Obama budget projects a deficit of more than $1.6 trillion, the equivalent of nearly 11 percent of the gross domestic product. Like money losing companies, they won't stop until they run out of cash, which means, until the bond markets stop giving them money. The US is like GM in the 1990's.