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CBO - Unsustainable Debt

Mike

Well-known member
The Congressional Budget Office said Tuesday the nation's debt is on an unsustainable path and warned that by 2038 if current law continues federal debt held by the public would hit 100% of GDP.

The nonpartisan CBO added by the same timeframe if no action by Congress is taken entitlement spending would increase to 14% of GDP, or twice the average over the last 40 years, and the annual deficit would grow to 6.5% GDP, bigger than any year between 1947 and 2008.

“The unsustainable nature of the federal government’s current tax and spending policies presents lawmakers and the public with difficult choices,” the CBO wrote in its latest report on the long-term budget outlook.

Unless “substantial changes are made to the major health care programs and Social Security,” in the future those programs will drain an ever larger amount of the total economy’s output, the report warns


Read more: http://www.foxbusiness.com/government/2013/09/17/cbo-warns-national-debt-is-on-unsustainable-path/#ixzz2fHRplh7q
 

Denny

Well-known member
The government is just like Dairy farming. About every five years a dairy farm needs to expand to keep ahead of the debt. Borrow more to make more to keep less great plan.
 

Faster horses

Well-known member
hypocritexposer said:
obama today

"Raising the debt ceiling, which has been done over a hundred times, does not increase our debt."

I guess it doesn't, if you don't spend it, but why ask for it, if you don't intend on spending it?

Sounds like a community organizer to me. He'll really never be more than that.
 

gmacbeef

Well-known member
Faster horses said:
hypocritexposer said:
obama today

"Raising the debt ceiling, which has been done over a hundred times, does not increase our debt."

I guess it doesn't, if you don't spend it, but why ask for it, if you don't intend on spending it?

Sounds like a community organizer to me. He'll really never be more than that.

After watching his dumbass the past 4 1/2 years, I don't think he can "organize" ANYTHING !
 

Steve

Well-known member
GMACBeef said:
After watching his dumbass the past 4 1/2 years, I don't think he can "organize" ANYTHING !

yep it was fine when he was sitting around telling everyone how he would fix things if he had enough authority.. now that he does it shows that his ill thought out BS is just that BS ...

(warning sarcasm alert) just looking at his past "record of success it is hard to imagine him failing now...
Jarrett-HabitatCo2.jpg


Obama's former state senate district called Grove Parc Plaza. According to the Boston Globe the housing complex was considered "uninhabitable by unfixed problems, such as collapsed roofs and fire damage.

is this where someone says,.. we told ya?
 
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