CBO Chief: The nation’s fiscal path is “unsustainable,”

CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: Richard S. On: Fri Apr 09, 2010 10:26 pm

http://www.politico.com/news/stories/0410/35546.html

The nation’s fiscal path is “unsustainable,” and the problem “cannot be solved through minor tinkering,” the head of the Congressional Budget Office said Thursday morning.

Doug Elmendorf, best known for arbitrating the costs of various health care proposals, added his voice to a growing chorus of economic experts who predict dire consequences if political leaders don’t scale back spending, increase taxes or both — and soon.

Elmendorf noted a recent CBO report that pegged an increase in the public debt from $7.5 trillion at the end of 2009 to $20.3 trillion at the end of 2020 if President Barack Obama’s fiscal 2011 budget were to be implemented as written. As a percentage of gross domestic product, the debt would rise from 53 percent to 90 percent, CBO forecasted. The last time the percentage was that high was right after World War II.


These idiots in Washington need to go pronto.
Richard S.
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: cokehead On: Fri Apr 09, 2010 11:17 pm

November can't come fast enough!
cokehead
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: brckwlt On: Sat Apr 10, 2010 12:24 am

i second that
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: acesover On: Sat Apr 10, 2010 6:41 am

They spend like drunken sailors, soon they will have to sober up and we will have to pay to clean up the mess.
acesover
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: lowfog01 On: Sat Apr 10, 2010 8:04 am

Really, anyone with any math sense doesn't need anyone to tell them this; the numbers just don't add up. We are like those folks about to witness train wreck. We don't want to watch but you can't turn away either.

I wonder why our liberal friends haven't posted any rebuttals to this "new information." I guess it coming from the CBO chief makes it untouchable. Maybe it's the fact that more and more of the inner workings of the Obama administration are coming out and more and more Americans don't like what they see. Didn't I read Obama's approval records are at the lowest level yet 43%? It's hard to argue with facts and maintain your credibility. I believe the words of Obama's former religious adviser sums it up -"the chickens are coming home to roast."

Pray for the country; November is a long way off. Lisa
lowfog01
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: samhill On: Sat Apr 10, 2010 8:31 am

I`ll put my 2 cents in for you Lisa since I`ve been labeled a Lib anyway, don`t know where everyone else has been but I have a news flash. The country has been deficit spending for many decades, it did not just happen.
samhill
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: jpete On: Sat Apr 10, 2010 9:12 am

You are exactly right Sam. Now where is that "Change" we were promised? Or is it, like I contended during the primaries that "out of the frying pan and into the fire" is an example of "Change"?

"Change" is what you will be lucky to have by the end of BHO's term.
jpete
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: cokehead On: Sat Apr 10, 2010 9:50 am

Republicans and Dems are both responsible for the long term deficits. You could argue all day as to which bears the most blame but that is a side show. The bottom line is spending must be reduced below revenues, Period! Anyone who thinks it will be painless is in Disney Land. The chickens coming home to roost is a great analogy. The American people need to elect responsible, principled people to government who have the backbone and long range vision to make the cuts it is going to take. The government made promises we as the tax payers can't afford to keep! You can't borrow your way to prosperity! I keep hearing we are the richest nation in the world and that is used as an argument to spend on who evers pet project. Time to wake up. We are broke!
cokehead
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: Dann757 On: Sat Apr 10, 2010 9:50 am

Please everybody calm down. The constitutional Law Professor knows what to do. It's a flawed and obsolete document. C'mon, we don't need no stinking AAA bond ratings with the NWO coming down the pike. The One has a plan, just sit back and be patient. It takes time to disarm us and rewrite the history books.
When you see the Interpol paratroopers land in your back yard, it would be nice if you offer them a cup of coffee. The NWO RFID implant is permanent and painless. You will not be overworked at the collective farms, that's just Fox News propaganda. mmmmm mmmmm mmmmm
Dann757
 

Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: samhill On: Sat Apr 10, 2010 10:10 am

Dan, I certainly don`t agree with everything B.O. has done but I never did with any Pres., he was handed a mess, I don`t know if he stopped a depression or merely slowed us down but something had to be done. Like cokehead said theres no use in arguing who did what, in my mind they are just about one & the same. What has to be done now is fiscal responsibility in all forms of Gov. from Fed. on down to municipal & I don`t see that coming, like they say you can`t teach an old dog new tricks & for the most part what we have is a bunch of flee infested old mutts that all believe they have a pedigree.
samhill
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: jpete On: Sat Apr 10, 2010 11:19 am

It's not about who did what or who did the most damage. It's about how the current guy is going to fix the mess.

Isn't that the job he was hired to do? I haven't seen him do anything except repeat the mistakes of the last administration.
jpete
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: samhill On: Sat Apr 10, 2010 11:27 am

I`m kind of surprised that none of you have mentioned that Ron Paul & others were on CNN last night & discussed this among others problems. He had a lot of good input, in some ways sided with B.O. & also put a lot of blame on both parties. Didn`t come up with anything real radical, maybe because we`re in so deep now you can`t do anything radical. It was on the Larry King Live show & was hosted by Jessie Ventura.
samhill
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: lowfog01 On: Sat Apr 10, 2010 12:01 pm

samhill wrote:I`ll put my 2 cents in for you Lisa since I`ve been labeled a Lib anyway, don`t know where everyone else has been but I have a news flash. The country has been deficit spending for many decades, it did not just happen.


True enough, but it has quadrupled in the one year that Obama has been in office and there has been one party ownership of the house. Tell me what have we brought for our money during this round of deficit spending - 61% owner ship of GM and a government take over of the Nation's financial operations. Now we've had a 1.2 trillion dollar health care law jammed down our throat regardless of the fact that 56% of the population doesn't want this particular bill; we want health care reform, just not a government take over. I'm sorry if I've mistakenly labeled you a lib, but on limited forum I can only go with what I've read in your postings and from what I've seen you always manage to miss the positive things the republicans have done; funny how that is.

Obama ran on a platform of change. He was going to run the most transparent administration ever. Tell me now that the bloom is coming off the rose - how is that going to work out for you and me in the long run. I'll tell you want I know - it's going to suck! Once the "necessarily sky rocketing" energy costs hit along with the cap and tax bill or the VAT tax and not to mention the national debt. it's going to suck big time. There is no way around it.

Lisa
lowfog01
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: samhill On: Sat Apr 10, 2010 2:11 pm

Well then would we have been better or worse off if the big 3 and the banks & such were allowed to go under? You remember who started the bail outs before B.O. got there, & that was with no provision for payback, the medi-care bill (which I think was good) except there was no provision to pay for it. One war that was just but never finished, another war that should have never been (both unfinanced), Blackwater & Halliburton no bid contracts non-financed & Cheney is still getting paid by Halliburton. But we won`t want to mention that, the Patriot Act, prisoner torture & building prisons, all guess what not paid for. Now if I were to finance someone to keep them from failing due to mismanagement I think it would be a good idea to have some say on how they do business & get paid back with interest. Once again would we have been better off just ignoring everything? And don`t take this wrong I don`t know if things could have or should have been done a different way but without more information which I`m not privy to I honestly don`t know, I do believe that more than any other time in recent history we needed people to quit petty bickering & work together but both sides choose not to.
samhill
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: freetown fred On: Sat Apr 10, 2010 4:18 pm

Damn sam,hey that rhymed :D --municiple responsibility???hell,we had nothing before BO,but,we didn't think we'd have less after 1 year :(
samhill wrote:Dan, I certainly don`t agree with everything B.O. has done but I never did with any Pres., he was handed a mess, I don`t know if he stopped a depression or merely slowed us down but something had to be done. Like cokehead said theres no use in arguing who did what, in my mind they are just about one & the same. What has to be done now is fiscal responsibility in all forms of Gov. from Fed. on down to municipal & I don`t see that coming, like they say you can`t teach an old dog new tricks & for the most part what we have is a bunch of flee infested old mutts that all believe they have a pedigree.
freetown fred
 
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