Skip to comments.Economist: ‘After 2016, All You See Is Unending Red Ink’
Posted on 11/12/2013 6:41:29 PM PST by Olog-hai
Douglas Holtz-Eakin, the former head of the Presidents Council of Economic Advisers, says that if Republicans and Democrats cant agree on a budget with significant spending cuts, spending just keeps going up in an uninterrupted fashion as far as the eye can see. By 2016, all you can see is unending red ink.
He added that he has little confidence that the congressional budget committee meeting officially for just the second time on Wednesday will be able to agree on a budget for the rest of the fiscal year that puts the federal government on an economically sustainable course by the December 13th deadline.
(Excerpt) Read more at cnsnews.com ...
Just great. I work and pay into SS all these years and the very year I’m eligible, the whole thing is going to sink.
The Bottom Line
And finally, that the CBO — your own government — says you’re rat****ed in 2016, just three years from now, if you get in the boxcar.
That’s not “perhaps”, not “odds-on”, but with near-certainty.
The simple fact of the matter is that if you do keep on keeping on you’re going to be in poverty anyway, so you may as well do it on your terms and choose when, where and how so being less-well-off doesn’t mean starving in the streets, which is exactly where the above attitude is going to land all of you, including the wife and kids.
But if you make the alternative choice you might, if enough people come along, actually manage to prevent the disaster that is otherwise inevitable.
Choose wisely folks.
(more at the link.)
Let it crash. Let it burn. It’s going to happen anyway so let’s just get it over with.
Thanks! I’m really into depression and melancholy right now that the holiday season is upon us.
Not one cut will be made.
The Experiment failed.
Meanwhile, the Kenyan and Moose will be cooling their heels on the beach in front of their mansion in Hawaii. Suckers!
True, the crash is coming in 2016 (or sooner). Hyperinflation will make U.S. Dollars worthless. The sign of it happening is when other nations move off the dollar for trading (which is beginning now). Most of us will be stuck on this Titanic, with very few lifeboats. You can move up to $10,000 each into overseas currencies without notice of the government, but they’ll probably outlaw that soon. You can switch dollars to gold and silver, and store some overseas, but they’ll probably outlaw that too (besides confiscating what you have here in the U.S., at least what they know of). We’re all going to lose buying power from our dollars. We’ll be like Cuba, the socialist paradise. No new cars, no new stuff.
People, America needs jobs.
Bring back US jobs. Stop importing so much.
Hmmm. Might try to remember to buy (or make) an umbrella. Chance of more precipitation on the way (of middle class currently supported by debt).
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.