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CBO: Deficits To Explode As Obama Leaves Office
Townhall.com ^ | January 26, 2015 | Conn Carroll

Posted on 01/26/2015 2:40:13 PM PST by jazusamo

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To: BenLurkin; VRWC For Truth

bumps


21 posted on 01/26/2015 3:06:06 PM PST by jazusamo (0bama to go 'full-Mussolini' after elections: Mark Levin)
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To: jazusamo

Don’t worry, this will be all over the ABCNBCCBSMSNBCetc. news tonight. The bad publicity will stop him.


22 posted on 01/26/2015 3:06:21 PM PST by The_Media_never_lie (The media must be defeated any way it can be done.)
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To: Oliviaforever
Too bad we do not have a political system where the Congress and not the President does the spending.

I think you are being sarcastic, right?

23 posted on 01/26/2015 3:07:39 PM PST by The_Media_never_lie (The media must be defeated any way it can be done.)
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To: The_Media_never_lie

Yes.


24 posted on 01/26/2015 3:12:51 PM PST by Oliviaforever
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To: jazusamo

you mean, if the govt takes over an industry that costs $3 trillion/yr ... it’ll increase overall govt spending by at least that much?

that would mean would tax revenues of $2.4 trillion currently would have to MORE THEN DOUBLE just to break even

good luck with that


25 posted on 01/26/2015 3:20:20 PM PST by sten (fighting tyranny never goes out of style)
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To: LibsRJerks

Whoever follows this anti-American president should be inaugurated with one hand on the Bible and the other holing a giant pooper scooper. They will need both to try to put this country back together.


26 posted on 01/26/2015 3:27:58 PM PST by txrefugee
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To: jazusamo

in the year 2020!

These numbers are all pie in the sky. They make assumptions that only a true idiot could not see are ridiculous.

Interest rates on the debt were double digit in the 80’s. They are only 2% now. If those interest rates go to a simple 9% now and stay there a little while then every penny the government takes in goes to pay the interest on the debt. Only a fool would think that can’t happen. Only a dim brain cannot realize that sooner or later(not much later) the mathematical reality is that all government income will be needed just to pay the interest on the debt. As the debt goes up, that magical 9% number goes down. Even as that rate goes up 1- 2% then their must either be drastic spending reduction or a far greater rate of borrowing. It is a mathematically reinforced positive loop that leads to financial destruction.

Articles like this an the CBO completely ignore reality. That is in fact why every prediction they have made in recent years have been a complete bust.


27 posted on 01/26/2015 3:29:51 PM PST by Revel
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To: SkyDancer

Congress’ fault. They’re the ones signing the checks.


28 posted on 01/26/2015 3:29:59 PM PST by sheana
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To: jazusamo

The increases will be due primarily to the entitlement programs and other mandatories, which are on automatic pilot. Obama and Congress for that matter, have no control over them save for reforming them, i.e., reducing benefits or raising taxes or some combination thereof.


29 posted on 01/26/2015 3:37:00 PM PST by kabar
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To: NormsRevenge
How kindly will history treat Obama?

Who the hell cares how history will treat Obama? He certainly doesn't care a rip about us.

History will not be kind to us for electing this charlatan.

30 posted on 01/26/2015 3:40:05 PM PST by The_Media_never_lie (The media must be defeated any way it can be done.)
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To: F15Eagle

Sad thing is most people will never understand that.


31 posted on 01/26/2015 3:48:25 PM PST by Rusty0604
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To: Revel
The entitlement programs are driving the deficits. 10,000 baby boomers retire every day and will continue to do so for the next 20 years. We will double our population of those over 65 by 2030. In 1950 there were 16 workers for every retiree; today, there are three to one; and by 2030 there will be 2 to one. $40% of Medicare parts B and D come from the General Fund, by law. The premiums collected for Medicare cover only 25% of the costs. If these programs are not reformed, they will consume the entire budget.

Medicare and SS are pay as you go programs, i.e., today's workers pay for today's retirees. We can't tax the worker enough to pay for these programs. The average Medicare recipient receives three times more in benefits than he paid into the system.


32 posted on 01/26/2015 3:51:31 PM PST by kabar
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Comment #33 Removed by Moderator

To: napscoordinator
I want the boomers out of the work force so that we get our chance. It is bad enough they are lingering longer then they originally wanted to.

I tried. I asked about retiring, and coming back to work on a part-time basis for those jobs that needed my particular skill-set (we have a shortage).

Instead, I was asked to stay. I'm mentoring new college grads, and other people with some experience, but not with my skill-set.

I'll retire eventually. Just not this year. I have to wait until I can start withdrawing from my IRA without penalties (and I don't want to jump through the hoops to do so before then).

Boomers have been running things for four decades now.

No, it's been more like two decades. Clinton was the first "boomer" President. Congress had a few younger Representatives and Senators before that, but not many.

Time to relax and retire.

It's a little hard to do that when the Democrat's Great Recession has wiped out a good part of your retirement assets. And, the Social Security trust fund will be empty in about 20 years, requiring an immediate 25% reduction in benefits for everyone.

I am in pretty good shape, for now. But, if the price of oil stays low, it's going to be a bumpy ride.

34 posted on 01/26/2015 4:25:27 PM PST by justlurking (tagline removed, as demanded by Admin Moderator)
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To: jazusamo

He whined like a baby about the “mess” Bush left him. Well Bush’s mess isn’t going to be jack **** compared to the abortion the Kenyan is leaving for the next president. Obama should be in jail for what he’s doing to this country. This is why the Founding Fathers insisted that all presidents should be AMERICANS!!!


35 posted on 01/26/2015 4:38:02 PM PST by FlingWingFlyer (When the hell do I get MY white privilege? I'm tired of busting my @$$ for a living.)
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To: jazusamo

And just think... It took the CBO six years to figure out what we all knew from day one.


36 posted on 01/26/2015 4:56:46 PM PST by AFreeBird
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To: jazusamo
Great the democrats can start squawking “Bush's Fault” before Jeb even takes the Oath of Office
37 posted on 01/26/2015 5:08:20 PM PST by silverleaf (Age takes a toll: Please have exact change)
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To: justlurking

The solution is, someone needs to bring back jobs to America.

NOBODY is doing that.


38 posted on 01/26/2015 5:10:53 PM PST by Cringing Negativism Network (http://www.census.gov/foreign-trade/balance/c5700.html)
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To: jazusamo

Better start brainwashing those grandchildren into believing that performing three jobs is normal, government is your friend, and the middle class was just a fairy story.


39 posted on 01/26/2015 5:33:41 PM PST by RetiredTexasVet (Benghazi Clinton killed 4 & injured a dozen as SOS, imagine what she could do as CinC.)
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To: justlurking

You sound awesome!!!! I wish I got the chance to meet you.


40 posted on 01/26/2015 5:34:41 PM PST by napscoordinator
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