But there is little doubt that at some point in time an adjustment of this type will likely have to happen if there is any hope to rebalance this economy.

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' And by definition, if the point of that is to avoid adjustment, you have to do it this year, the next year, the year after, and every year, forever.

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The government's plan to extract 80% of the adjustment from spending is a good starting point.

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There's going to be a period of adjustment, no doubt, but they're doing very well at this point.

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