Which means we have no choice but to cut entitlements.
The Office of Management and Budget believes Congress must find the extra money by cutting other entitlements or raising taxes.
When you "cut entitlements", it's generally on programs that the poor depend on.
That's generally because "cutting entitlements" is code speak for "class warfare by the rich."
The editorial deplores the balanced-budget agreement for not cutting entitlements.
I don't think a lot of people really understand the difficulties involved with cutting entitlements.
A Congressional committee estimates that the Stenholm cap would require cutting entitlements by a whopping $150 billion over five years.
And some will have to be cut, entitlements among them.
But countries that go into default don't always cut programs and entitlements until they can pay every bondholder.