Posted on 01/29/2010 12:22:22 PM PST by Shellybenoit
Prosperity is not around the corner, at least to CBO Chief Douglas Elemendorf. The Democratic party appointed head of the non-partisan Congressional Budget Office testified before Congress yesterday morning and told the House and Senate Budget Committees that as bad as things are, fasten your seat belts because it going to get MUCH Worse.
* Under current law, CBO projects that the budget deficit this year, will be about $1.3 trillion, or more than 9 percent of the country’s total output. Looking beyond this year, the budget outlook is daunting: Under current law, CBO projects that the deficit will drop to about 3 percent of GDP by 2013 but remain in that neighborhood through 2020. By that point, interest payments alone would cost more than $700 billion per year.
(Excerpt) Read more at yidwithlid.blogspot.com ...
this is what me and few other people on here have been screaming for months on here.God gold and guns hope you all have all 3!!!
I’m so sick of these idiots in D.C. Cut taxes dammit, that’s the only way to bring us out of this. They know it but rather are hell bent on destroying us by beating us into submission or death for the utopian vision they “feel” and we know will never come.
We will have a fake “recovery” this year and a BIGGER crash next year tan we ever needed to have.
Government will have made it much worse.
Is that sentence correct? The deficit more than 9 percent of total output? Shouldn't that read 9 percent of total output?
It’s all on a path to violence, I’m afraid. Hopfully, I will have passed away before that.
that’s a direct quote from the CBO Director
Yikes! Ping
Cutting taxes per se... will not bring us out of this.
Because the costs thate are ultimately vivisecting the economy have been disguised as environmental and safety regulation.
If the government admits to the American that those things have become just taxes, they could be next to impossible to implement a second time.
Expect things to get as bad as the thirties before they get better.
It’s going to be worse than they think.
It’s a damn good start. We need to be employed by means of lower taxes in every arena and less government in rules and regulations of our industry and our lives.
Even in the 90s I worked at a company where waste disposal costs exceeded the payroll. And glycol decomposes to dirt on it's own.
Lower taxes, and only that only helps service sector jobs.
It isn't that I don't think taxes are too high, it is just that taxes listed as such are only (to employ an accurate but overused metaphor) the very tip of the iceberg.
Marked to read.
GDP 5.7 and market down...very bearish sign.
To everyone but the DC morons this is simple....
Deregulate-
corporate-Federal relations result in regulation strangling meaningful small business alternatives to worn out 20th century corporate shells
Detax
the above relationship depends on the existing IRS; Fascist entities use the data to sniff out local small business success and move in on it. The Fair Tax is just that
Restore meaningful representative Gov’mt....that means 7000 congresscritters to match the original ratio of 1:30000 the Founding Fathers recommended to be sure that Congress would only involve itself in the broadest of issues affecting the union of states; Repeal the 17th Ammendment which would restore the Senate to the states.
this is all conceptually and politically simple if We the People exercise their responsibility to the country...and themselves.
I picked up a .357 today that I’d paid for last week. I had to wait for the Sheriff’s report to come back for approval (this is in NC). I bought two more permits at the same time. I still need to get a shotgun, too. We have frequent formations of migratory geese fly over the house. Might come in handy some day.
Gold and silver. Got as much as I can afford. We’ll see what happens in the next year or three. I want to get a stock of antibiotics. I can get vetinary grade for fish, dunno about that.
Yea, though I walk through the valley of the shadow of death, I fear no evil for I am the meanest SOB in the Valley. ;-)
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