DEBT DEFICITS AND SOCIAL SECURITY
Outstanding short clip. Erskine Bowles and former Senator Alan Simpson defend their debt plan against criticism from Grover Norquist on Squawk Box Friday.
"Norquist has a voodoo doll of me on his bed chamber. And he pokes little holes in it. There wouldn't be a thing Erskine and I ever did that Grover Norquist wouldn't get on his white horse and get his robes on and ride through the countryside like Paul Revere in reverse. This guy is a fraud."
Is $20 trillion enough, do you think? Ok, what about $25 trillion? That doesn't make you happy, DC? Okay, you win, the national debt will be $30 trillion in about twelve more years as the automatic entitlement spending starts to explode in 2020.
Meanwhile, the national debt continues to climb by the second...