Correcting the U.S. Budget Deficit

                 

The deficit between spending commitments and revenues  now equals more than one-third of the America’s gross domestic product.

                       

Corporations would be required to count these new liabilities when they are taken on.

                       

The administrations still insists that future growth will cover this gap. But we are talking about years and years of at least 5% to 7% annual GDP growth. This is unlikely when there is nothing in the future to entice a vibrant economy but job-defeating inflation, higher interest rates that accompany inflation and the specter of higher taxes and regulation.(See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)