That doesn't leave a lot of room for cutting expenses, he observes. The largest source of revenue for the government is the personal income tax. This year about 57 cents of every dollar collected will be used to pay the interest bill. The American people haven't got the slightest notion of how serious it is. But let me tell you it is serious.
Young people are absolutely terrified.
We are heading toward a time of great confrontation. You can estimate the size of that confrontation by considering his suggestions for eliminating the deficit. Easier to say than to do.