What utter BS. So what is the CBO’s answer? More borrowing? How does that help anything? Are we insane? If someone is using credit cards to live above their means, is the answer to cut back to live within income or is the answer to get a couple more credit cards? We truly have gone insane as a nation to think that its irresponsible to cut spending.
The CBO revenue estimates are based on static analysis.
Tax collections will certainly not increase as much as they say, not after the first couple of months. Incomes will fall, income will be hidden or delayed, people will lose their jobs and lose all their income, etc.
Dynamic analysis of revenues should be based on their estimate of the economic effects. They have plenty of data with which to model a dynamic revenue scenario.
Good, no deal. America voted for Obama, this is a consequence of that.
Propaganda and lies in order to blame what is coming on the republicans. There is no way out of bad times here. It is simply impossible. It cannot be solved in a way that is both mathematically and politically possible. And we have gone so far into the entitlement realm that any mathematical solution leads to mobs and riots from those that feel entitled.