I like Mulvaney for other attributes, and he may be talking about politics not economics ("no center of gravity for cutting") but "we are not going to cut our way to balance" is wrong, wrong, wrong, in my opinion.
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Oh, right, when I owe more on my credit cards than I make in 3 years, not to mention paying my sky high mortgage and car payments, why would I consider cutting spending? I blame both parties. The cliff is right there and they do nothing to stop us from going over it.
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