The Hill News

The economic chickens of spending trillions more than we bring in have come to roost the past seven days. In the past week, Standard & Poor’s has downgraded its outlook on U.S. debt, the International Monetary Fund (IMF) has projected that within five years the U.S. will cease to be the top economic power in the world and China announced that it is likely to cut its holdings of U.S. debt.

There couldn’t be a clearer message to stop spending, yet Obama still doesn’t get it, even with the national debt debate roiling around Washington ...

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