Huge deficits unsustainable: Samuelson

Some simple, indisputable facts, inconvenient facts for the O-bots; the charade gets harder to maintain and believe in:

"The trouble is that the public sector also faces enormous cost pressures, driven by an aging population and rising health costs. The Congressional Budget Office projects the federal debt will double as a share of the economy (gross domestic product) to 82 percent of GDP by 2019.
Any sober examination of figures like these suggests that the system has promised more than it can realistically deliver.

We are borrowing not to finance investment in the future but to pay for today’s welfare — present consumption. Sooner or later, the huge debt will weaken the economy. Nor would paying for all promised benefits with higher taxes be desirable. Big increases in either debt or taxes risk depressing economic growth, making it harder yet to pay promised benefits.

http://www.washingtonpost.com/wp-dyn/content/article/2009/06/21/AR2009062101792.html