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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. Ron Johnson,...

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