USA - To keep government from going broke, calculated economist Dr. Jagadeesh Gokhale, Congress would have had to impose permanent tax increases or spending cuts, or a combination of both, equal to 9 percent of the national economy.

We need truth in spending

by David Schoenbrod

The good news is that the House, Senate, and president concur in the bi-partisan budget deal. The bad news is that you won't find a bill for $18,000 in your mailbox. 

• That is bad news because the government needs that much from the average family every year to avoid going broke. 
• Such huge bills, which we would have to pay chiefly through higher taxes or lower benefits, would get us angry enough to vote the legislators out of office. 
• So they understandably didn't bill us now. 
• However, they should have told us how much we will have to pay later. 
• After all, in the Truth in Lending Act, Congress requires private lenders to give prospective debtors notice of how much they would have to pay later. 
• Until Congress gives us Truth in Spending, it cannot begin to clean up the fiscal mess that both parties have created.

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