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CBO director: Debt will be unsustainable without ‘significant’ changes to entitlements or broad tax hikes

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Throughout his presidency, President Obama has advanced the idea that the nation’s mounting debt problem could be solved by “ modest adjustments ” to entitlement programs and asking wealthy taxpayers to pay just a little bit more. But in Senate testimony today, Congressional Budget Office director Doug Elmendorf communicated that it wasn’t quite that easy. Under questioning from Sen....