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CBO Projects $2.4 Trillion in Debt – And They’re Underselling It
Townhall.com ^ | May 5, 2018 | Andrew Wilford

Posted on 05/05/2018 9:18:13 AM PDT by Kaslin

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1 posted on 05/05/2018 9:18:14 AM PDT by Kaslin
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To: Kaslin

The Rats figured out long ago that the key to accomplishing the goal of the destruction of the US was to mire us in debt. The GOP have been complicit, knowingly or not.


2 posted on 05/05/2018 9:20:28 AM PDT by wastoute (Government cannot redistribute wealth. Government can only redistribute poverty.)
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To: Kaslin

What Would Happen if the US Defaulted on its Debt?

https://www.davemanuel.com/what-would-happen-if-the-united-states-defaulted-on-its-debt-96/


3 posted on 05/05/2018 9:21:40 AM PDT by Signalman
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To: Kaslin
If large publicly-traded corporations acted like this, the corporate officers would be charged with violations of the Sarbanes-Oxley act. Time to throw the congressional amoral scoundrels in jail.

For how long? Until the national debt decreases from one fiscal year to the next. The last time that happened was the fiscal year ending 12/31/1960.

4 posted on 05/05/2018 9:22:03 AM PDT by Bernard (The only Fair Tax is the Tax that Taxes You and not Me)
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To: Kaslin

I don’t recall the CBO ever getting anything right. Aren’t they always dire predictions for Republicans and rosy for Democrats?


5 posted on 05/05/2018 9:28:53 AM PDT by robel
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To: Kaslin

Inform Congress and all heads of agencies they will forfeit their paychecks until they cut their budgets 50%.


6 posted on 05/05/2018 9:31:26 AM PDT by bgill (CDC site, "We don't know how people are infected with Ebola.")
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To: Kaslin

Static analysis based on faulty assumptions (most likely).


7 posted on 05/05/2018 9:35:07 AM PDT by gov_bean_ counter (Free Republic has been reduced to primarily a gathering place for the inane, banal, and obtuse.)
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To: Kaslin

They under projected the deficit under Obamacare so now they are adjusting the deficit to a more realistic number and blaming it on the tax cut.


8 posted on 05/05/2018 9:59:24 AM PDT by Brilliant
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To: robel
I don’t recall the CBO ever getting anything right. Aren’t they always dire predictions for Republicans and rosy for Democrats?

You hit the whack a mole right on the head. The CBO is a political agency with a Globalist agenda. Spinning the statistics for effect. POTUS is on the path to lower the debt & balance the budget but the Globalists don't want that to happen...so...the sky is falling.

9 posted on 05/05/2018 10:00:54 AM PDT by JayGalt (You can't teach a donkey how to tap dance.)
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To: robel

The CBO does have a bad history of being wrong. However, you can view the debt numbers, the current lack of discipline within our government, and the lack of restraint on entitlements and draw your own personal non-CBO conclusion.

Our debt must be addressed and a moral country should recognize the legal, ethical, and fairness of NOT leaving our children to clean up our mess. Trump has the approach to foreign policy and I believe if he is supported by his own party and has two terms he will take the same approach. He has said as much and he understands debt, capital, and how it impacts you down the road far better than any of us.


10 posted on 05/05/2018 10:04:47 AM PDT by volunbeer (Find the truth and accept it - anything else is delusional)
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To: Kaslin

Sorry...I will never believe a projection...any projection that comes from the CBO.

Could care less about their statistics or “math”...

A broken clock is right more times than the CBO.


11 posted on 05/05/2018 10:07:41 AM PDT by Herodes
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To: robel

CBO scored ObamaCare as a net plus, i.e., would reduce the federal budget in the long run. Need you know more?


12 posted on 05/05/2018 10:12:53 AM PDT by kevao (Biblical Jesus: Give your money to the poor. Socialist Jesus: Give your neighbor's money to the poor)
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To: Kaslin

The CBO has a long history of underscoring the effects of increased economic conditions. The US economy is improving by leaps and bounds both on Wall Street and Main Street and it looks to continue.. Surely it will offset much of the deficit CBO forecasts.


13 posted on 05/05/2018 10:14:12 AM PDT by elpadre (AfganistaMr Obama said theoal was to "disrupt, dismantle and defeat al-hereQaeda" and its allies.)
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To: Kaslin

Tax revenues are up substantially - unfortunately, spending is also - thus the interest on the debt gobbles an ever-larger chunk of tax revenue, which means more borrowing, which means more interest. Pretty soon, tax revenues will barely cover the INTEREST payments.


14 posted on 05/05/2018 10:14:36 AM PDT by TheBattman (Democrats-Progressives-Marxists-Socialists - redundant labels.)
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To: Bernard

Not going to happen. We are “too far” down the debt path.

The amount of spending cuts it would take to simply “balance” the budget is unachievable.

That being said - if we were to restore government spending to CONSTITUTIONAL stuff only - the debt could be paid off rapidly...


15 posted on 05/05/2018 10:16:00 AM PDT by TheBattman (Democrats-Progressives-Marxists-Socialists - redundant labels.)
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To: Kaslin

We need to nationalize the Federal Reserve. Then we would be paying interest to ourselves instead of a private bank.


16 posted on 05/05/2018 10:19:55 AM PDT by Vic S
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To: Kaslin

Isn’t it nice that Americans not yet born will be Trillions in debt and these a-hole political whores will be dead after living the lush life?


17 posted on 05/05/2018 10:42:43 AM PDT by shanover (...To disarm the people is the best and most effectual way to enslave them.-S.Adams)
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To: Vic S

Actually, one of the big secrets is that we do pay the interest to ourselves. When the FED buys up bonds to stimulate the economy, the interest on those bonds, minus a fee, goes right back to the treasury. Nice trick huh? It took a lot of digging to figure out how this works. Theoretically, a long term growing economy needs a continuous money supply injection to keep from going into deflation. President Trump could work with the FED to soak up a large portion of the outstanding debt. Not too much though. Why? Because all those bonds around the world create a significant level of security and stability to the the global economy.


18 posted on 05/05/2018 10:44:04 AM PDT by Revolutionary ("Praise the Lord and Pass the Ammunition!")
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To: Vic S
How about...claw-back the "T"rillions stolen, then hang the traitorous, deep-state b@stards.

...no accountability, no consequences = no MAGA...EVER!

19 posted on 05/05/2018 10:50:22 AM PDT by RckyRaCoCo (Please Pray For My Brother Ken)
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To: Kaslin

The direct result of a fiat, printed, Federal Reserve currency

The next result is that progressives and oligarchs, those who have first access to newly printed money and government debt and spending, will be able to run their statist social-engineering schemes, and you can’t do anything about it.


20 posted on 05/05/2018 11:08:52 AM PDT by PGR88
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