Confronting the Nation's Fiscal Policy Challenges(CBO: Federal pending unsustainable!)

CBO ^ | Sept. 13, 2011 | Dougla Elmendort, CBO Director

[Clairity]

The federal government is confronting significant and fundamental budgetary challenges. If current policies are continued in coming years, the aging of the population and the rising cost of health care will boost federal spending, as a share of the economy, well above the amount of revenues that the federal government has collected in the past. As a result, putting the federal budget on a sustainable path will require significant changes in spending policies, tax policies, or both. The task of addressing those formidable challenges is complicated by the weakness of the economy and the large numbers of unemployed workers, empty houses, and underused factories and offices. Changes that might be made to federal spending or tax policies could have a substantial impact on the pace of economic recovery during the next few years as well as on the nation’s output and people’s income over the longer term.

[Clairity]

Things look a lot worse, than people realize. Read the rest and look at charts at the link.

[Clairity]

There are also a number of articles, but it’s worth reading the actual testimony of the CBO director.

U.S. Can’t Sustain Spending and Tax Levels, CBO Director Says

http://www.bloomberg.com/news/2011-09-13/u-s-can-t-sustain-spending-and-tax-levels-cbo-director-says.html

[KansasGirl]

To bad the partisan media’s goal is to help Democrats demogogue issues that than inform the American peple.

[cuban leaf]

Can you find the missing “s”?

;->

[KansasGirl]

To bad the partisan media’s goal is to help Democrats demogogue issues rather than to inform the American peple.

[Rich21IE]

It will be said of the US one day that “They awakened with a start and came suddenly to realize that the light at the end of the tunnel was..............Greece!