U.S. Perfecting Formula for Budget Failure, Says Bowles
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April 30 (Bloomberg) -- Erskine Bowles, a true Southerngentleman and co-chairman of President Barack Obama’s erstwhilebudget-deficit commission, came to New York City from his homein North Carolina the other night to talk sense about thenation’s perilous fiscal condition.
“I think today we face the most predictable economiccrisis in history,” he told an audience on April 24 at theCouncil on Foreign Relations -- an audience that might actuallybe able to help do something about the problem. “Fortunately, Ithink it’s also the most avoidable. I think it’s clear, if youdo simple arithmetic, that the fiscal path that the nation is onis simply not sustainable.”