Why all the red? Because the President’s new budget proposal doesn’t deal with entitlements at all. Taxes increase and so does debt as a percent of GDP. Read the details here. (FYI, the “Path to Prosperity” is the Ryan proposal).
The best part, however, is this exchange after Paul Ryan pointed out all that red ink:
GEITHNER: You could have taken [the chart] out [to the year] 3000 or to 4000. [Laughs]
RYAN: Yeah, right. We cut it off at the end of the century because the economy, according to the CBO, shuts down in 2027 on this path.
I know Ryan says he doesn’t want to run for President, but can we hope for Speaker of the House?