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. And although this administration has been touting their economic growth lately, the CBO points out that economic growth itself is "unlikely" to bring the nation's long-term fiscal position into balance, especially if we accrue ever-larger amounts of debt.