...I don’t see spending slowing down any time soon...
Not a penny of the debt will ever be paid off. It is just debasement of the value of the dollar, any savings in dollars( all those decades you saved....puffed it’s gone ), pensions.
The printing, excuse me, quantitative easing is a tax, a taking on holders of money. A tax on the rich, near rich, middle class and working class.
The thing is Both the Bush/Lott/Hasteret and now Obama and maybe soon Romney and forever will continue. This is just the beginning of the beginning.
I don’t think we will make any serious reforms unless we have a event that makes 2008 look like a ice cream party on a summer afternoon.