Bottom Line, They Both Suck

 

From the Washington Examiner:
Lawmakers wrangling over “fiscal cliff” negotiations may have a bigger problem on their hands over the next decade, as the current rate of federal spending could drive the United States into a fiscal crisis, according to the Congressional Budget Office.
The CBO issued this warning in a little-noticed report on the effects of the fiscal cliff that was released just before David Petraeus resigned as CIA director (my emphasis):

[I]f the fiscal tightening was removed and the policies that are currently in effect were kept in place indefinitely, a continued surge in federal debt during the rest of this decade and beyond would raise the risk of a fiscal crisis (in which the government would lose the ability to borrow money at affordable interest rates) and would eventually reduce the nation’s output and income below what would occur if the fiscal tightening was allowed to take place as currently set by law.

President Obama’s budget — voted down unanimously by the House and Senate earlier this year — would have added almost $10.4 trillion to the federal debt over the next decade, according to a review of the budget by Republicans on the Senate Budget Committee.
“We aren’t $16 trillion in debt because taxes are too low; it’s because Washington spends too much,” said The Public Notice’s Gretchen Hamel in a statement on the CBO report. “Without major reforms to entitlements and significant spending cuts, we are doomed to go off a cliff, it’s just of question of when.”
http://washingtonexaminer.com/cbo-debt-poses-greater-long-term-economic-threat-than-fiscal-cliff/article/2513685#.UKc8Z2c8VXs
And Obama doesn't really care about either.  He doesn't put forth an honest budget to control the deficit nor does he lead during the Fiscal Cliff.
Obama fiddles while Washington D.C. and the nation burns.