The Congressional Budget Office released their Long-term Budget Outlook today, in which they noted Even if taxation reached levels that were unprecedented in the United States, current spending policies could become financially unsustainable. An evergrowing burden of federal debt held by the public would have a corrosive and potentially contractionary effect on the economy.

We have been saying a lot lately that Congressional GOP budget and tax policies look out for the wealthy by providing them with tax cuts, while at the same time hurt the poor by robbing social programs of funding in the name of fiscal responsibility and deficit reduction. While this is true, there is more to the picture. As Josh Lynn and Robert Gordon have recently discussed at Think Progress and in the American Prospect, the latest GOP policies are also responsible for discouraging hard work and self-reliance - two ideals endlessly promoted in conservative rhetoric. Lynn and Gordon write

During a prayer vigil for "moral budget" today in the Capitol Rotunda, 114 people were arrested. The vigil was led by evangelist Jim Wallis of Call to Renewal, and it was one of approximately 63 prayer vigils taking place across the country today. Participants were acting in response to Congressional votes on the budget and tax reconciliation bills.