CBO: Federal budget is on unsustainable path...

http://cboblog.cbo.gov/?p=328 ^

[kcvl]

Congressional Budget Office Director’s Blog --------------------------------------------------------------------------------

« Intergovernmental Mandates in Federal LegislationThe Long-Term Budget Outlook Today I had the opportunity to testify before the Senate Budget Committee about CBO’s most recent analysis of the long-term budget outlook.

Under current law, the federal budget is on an unsustainable path, because federal debt will continue to grow much faster than the economy over the long run. Although great uncertainty surrounds long-term fiscal projections, rising costs for health care and the aging of the population will cause federal spending to increase rapidly under any plausible scenario for current law. Unless revenues increase just as rapidly, the rise in spending will produce growing budget deficits. Large budget deficits would reduce national saving, leading to more borrowing from abroad and less domestic investment, which in turn would depress economic growth in the United States. Over time, accumulating debt would cause substantial harm to the economy. The following chart shows our projection of federal debt relative to GDP under the two scenarios we modeled.

[CottonBall]

Naw, TPTB will induce hyperinflation, solving all their worries. (And creating many more for the masses)

[domenad]

Question for all: Can Obama fire anyone in the CBO? Because it would not surprise me a bit if every one of these guys was out on the street tomorrow.

[DoughtyOne]

The Freepathon is still going strong.  Let's put an end to it.


                          The following is directed to Freepers who haven't donated or signed up for monthlies yet...

27% is good.  100% is better.  You know you're going to do it.  Pull the trigger!  You don't have to pay it all now.  $5 now, $25 next week, $10 later... keep the ball rolling.

Monthly donorship is a good way for us to avoid having to do the Freepathons.  Besides, it's a great way to pony up in style.
If you're on the verge of becoming a monthly donor or you think you would like to up your monthly donation a bit, has Jim got a deal for you. 
Check this out.  There's an added incentive for a limited time only.  (Always wanted to type that...)

Thanks to Freepers who have been frequenting the Freepathon thread to ham it up with folks over there.  It helps to raise the visibility of the Freepathon.

Jump into the Monthly Donorship special thread too.

The Spirit Of Allegiance says, "For those about to donate, I salute you!"  So do I.

[Nachum]

The list, ping

[Joan Kerrey]

it would not surprise me a bit if every one of these guys was out on the street tomorrow.

---

I think you’re onto something. I’ve also wondered how the CBO gets by putting out negative data. They are obviously a real problem for the administration.