I did read the PDF and it’s not a pretty picture. Basic breakdown:
Rise in GDP, good. Rise in percentage of public debt as a ratio to the GDP, bad. (Projected to be close to 100% of GDP near 2020).
So, not good. But some caveat time:
First, this is the CBO, the same group that said we’d have a budget surplus back in 2000. So I really don’t trust their predictive capabilities much.
Also, looking at the actual numbers (for GDP) for last year it seems pretty decent. Also, looking at the historical graph of the Debt/GDP ratio, during the WWII years we also had nearly 100% of debt to GDP.
But again, that was during war time. What’s our “excuse” now? Our “war on poverty” started by LBJ, and all the entitlements that go with it?
Probably. Which is why we need to get rid of a welfare state and mentality if we are going to survive economically. Assuming the CBO can be trusted to predict the economic future, see above. Personally, I think there is economic chaos in our future but just not as quick as the CBO (or anybody) predicts. And it’s all because of our unfunded liabilities like “health care” for the “poor”, food stamps, and all the other products of LBJ’s failed fantasy. So they should all be repealed.
That’s not a political reality though. The system is going to crash, hard, before anyone dares touch those darlings of the left. And there will be chaos, looting and rioting when the EBT shuts down and food stops flowing.
So bottom line: if you believe you will live more than 40 years from today, buy gold and other precious metals (maybe even some rare earths but those values are really dependent on a functional technology based economy which will collapse along with the whole).
Because a collapse is coming. Not probably as soon as some gold bugs today claim, but it’s coming. It’s simple mathematics, it’s not scare mongering or politics.
Myself, I’m not planning on living much past 2040. Maybe 2050. So I’m not too worried. But if you reading this are younger, you better. Or buy property and live off the land and grid. Because the dollar and even crypto currency won’t save you, no matter how much you have saved up in a bank or online anywhere past 2060.
As a general statement, I can find no fault with your opinion and your reasoning to justify it.
But there's a fatal flaw in the entire system, the process, that is absolutely impossible for the elected criminals, the bureaucracy or Joe Public to unravel : Welfare has gutted the Social Security and Medicare systems already by hiding additional welfare among them.
HUNDREDS OF WELFARE PROGRAMS, WITH DECEPTIVE NAMES HIDDEN EVERYWHERE ELSE IN THE BUDGET!
Until welfare is limited to a single budget item, with as many sub catgories as necessary to prevent hidden programs fom being hidden, the waste, fraud and overhead can never be eliminated or reduced.
Whatever Dubya may have done to Make America Sick Again, he created a web site that allowed all citizens to monitor the effectiveness of each and every budget item, and, if effectiveness is less than 50%, logically it should be eliminated.
Obama eliminated the sit immediately, of course.
The URL of the site (even though it hasn't been serviced since 2009) is still viewablele. It is :
Expectmore.gov Dubya's Fantastic useful transparency tool!