Jeff Thredgold">

Economic outlook for '12

Published: Friday, Dec. 2 2011 4:27 p.m. MST

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Political theater of the absurd has been commonplace in the nation's capital, with extreme partisan politics today's reality. The government's ability to live within its means remains highly elusive, even as European developments should be sending strong signals to Washington about damaging annual budget deficits and a more than $15,000,000,000,000 gross national debt.

Various economic studies have suggested that any nation's ability to prosper and grow at a satisfactory pace is endangered when its gross national debt reaches 90 percent of that nation's annual economic output. We are now at 100 percent … and rising quickly.

Trillion-dollar-plus budget deficits of the past three fiscal years will continue for as far as the eye can see. The biggest threat to this nation is the financial cancer of irresponsible government deficits. As noted frequently, the need to slow the future growth pace of entitlement programs is mandatory.
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