Douglas Holtz-Eakin, the former head of the President’s Council of Economic Advisers, says that if Republicans and Democrats can’t agree on a budget with significant spending cuts, “spending just keeps going up in an uninterrupted fashion as far as the eye can see. By 2016, all you can see is unending red ink."
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When CNSNews. com asked him what will happen when the CR expires in two months, Holtz-Eakin replied: “I would suspect that the House will pass another continuing resolution to keep funding the government at the lower level of the Budget Control Act of 2011 (also known as the sequester) with an additional $20 billion in defense spending. The Senate will have to decide if they can live with that.
“My best guess is that overall discretionary spending will be reduced to levels no one likes while entitlements such as Obamacare, Medicare, Medicaid and Social Security continue to grow on autopilot,” he added. But at the end of the day, “we’ll spend more,” he predicts.Read the full story HERE and view a related video below:
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