Mark Sanford:
To go all the way in simply telling the truth.
I think that, you know, people would acknowledge that we're on an unsustainable path. I think there's a disconnect between the way in which people gather around the family kitchen and the watercooler and the business table, and very carefully and meticulously going through their budgets at the business or individual level.
And they see the numbers and they say, you know, they don't add up. And if nobody else is worried about it, I guess I'm not worried about it either.
And so we have been lulled into this sense of, it will go away on its own, when, in fact, that's not case. Erskine Bowles, was one of the co-chairs of the Bowles-Simpson report, said this at the end of it. He said, we're walking away from the most predictable financial crisis in the history of man.
And I think we're now at that the tipping point, if you look at the way we're projected to run deficits over the next 10 years, if you look at where we are on debt, if you look at the spending that accompanies both, we are at a tipping point.
And so either we go out and confront truth and, indeed, deal with entitlements and other, or we pretend it is going to go away, which it never does, and as a consequence the financial markets will bring us back to reality, and it will be bruising for every one of us.