"The American people today are not remotely prepared for the changes that are necessary," said former Congressional Budget Office director Rudolph Penner.
He says Americans who have been accustomed to buying on credit and living beyond their means at home may soon face a painful reality as the government tightens its belt further.
"They aren't hearing about the drastic changes needed, and they certainly didn't hear about it in the President's budget," Penner said.
Wednesday, February 17, 2010
Economists Predict Cutbacks, Tax Increases That 'Aren't Even Imaginable'
This can't be good, What the Nation's Budget Woes Mean for You.
