..."They kind of create money out of thin air," said Maya MacGuineas, president of the Committee for a Responsible Federal Budget.

Here's what she means: Washington is charging the cost of the wars in Iraq and Afghanistan to its national credit card. So far, the government has spent between $700 billion and $800 billion since 2001. Simply deciding to spend less money the government doesn't have will not free up real money to pay down the current deficit or help pay for new endeavors.

"We'll be borrowing less, but we'll still be borrowing," MacGuineas said... LINK