Posted on 02/07/2024 6:00:11 PM PST by davikkm
In the intricate dance of economic forecasts and fiscal warnings, the recent release of the Congressional Budget Office’s (CBO) 10-year Budget and Economic Outlook has cast a shadow over the nation’s financial landscape. Michael A. Peterson, CEO of the Peter G. Peterson Foundation, steps into the spotlight with a resounding call for action as he decodes the ominous projections and highlights the pressing need for a bipartisan fiscal commission.
As the digits on the deficit ticker continue to climb, Peterson’s warning resonates as a siren in the night, alerting us to the impending storm of unsustainable national debt. Over the next decade, the U.S. is poised to borrow a staggering $20 trillion, propelled by a perfect storm of structural challenges – an aging population, soaring healthcare costs, escalating interest expenses, and a tax system that falls short of meeting our commitments.
(Excerpt) Read more at citizenwatchreport.com ...
If a report’s premises are way off, so are its conclusions (inconclusive though they may be).
1. Saving social security is a pipe dream. It’s too far gone.
2. Forming a bipartisan commission to do same is a double-piper. The ideological divide precludes any such thing.
3. The premise that the influx of immigrants will add anything positive toward the solution is a triple-piper.
Other than that, it’s a wonderful, scary report.
“highlights the pressing need for a bipartisan fiscal commission”
5000 page mask bill. Hide the theft..Go get their work money.
Congress just borrows and spends as fast as it can. To make matters worse, it spends money on dumb things. A balanced budget must be codified into the Constitution but that will never happen.
Decade, Schmecade.
STOP gov’t Spending NOW!
So lets recap: Democrates have driven the Country off a fiscal cliff and be forced to admit they lied about the Social Security ‘Lockbox’; Medicare; and all the free money give aways to approved charities and foreign countries.
So now they want to have a ‘Bipartisan’ resolution so they can blame Republicans for taking all the goodies away.
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