Posted on 01/17/2013 5:37:13 PM PST by Nachum
The Government Accountability Office (GAO)’s annual audit of the government, released Thursday, raises serious concerns about the federal government’s long-term financial stability and the effectiveness of the Affordable Care Act’s cost-curbing measures.
The report found “that—absent policy changes—the federal government continues to face an unsustainable fiscal path.”
The GAO, which is an “independent, nonpartisan” government agency, released its annual report as Congress braces for a fight with President Barack Obama over the debt ceiling. Republicans are calling for spending cuts in exchange for raising the debt ceiling. The president has vowed not to negotiate with Congress.
The report notes that while the government’s net operating cost was about $1.3 trillion in Fiscal Year 2012, its “unified budget deficit” was $1.1 trillion that year, “and as of September 30, 2012, debt held by the public had increased to 73 percent of gross domestic product (GDP).”
(Excerpt) Read more at freebeacon.com ...
The list, Ping
Let me know if you would like to be on or off the ping list
Totally unsustainable.
Welfare is NOT an entitlement.
It’s a gift and should be so taxed, under the “gift tax.”
BHO told us that ObamaCare will reduce the deficit and save money. BHO never lies,peace be upon him
I’ve often said that welfare benefits should be 1099’d. I think it could weed out the fraud.
Right. We’re all sick of the freeloaders. Generations of them.
I love sarcasm!
Thanks Nachum!
Gee. Ya THINK?!?!?
“Obamacare’s failure to contain costs”
Actually it would be my assertion that Obama has never had any intention of “cost containment.” He’s just Cloward-Pivening us into submission to his planned Marxist replacement state.
My TV must not be working. I viewed the network newscasts Thursday and Friday and not one pixel on my screen transmitted information about this GAO Report.
It will work much better after a half a bottle of good wine.
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