0bama’s fault.
His legacy.
Chickens coming’ home to roost..
How kindly will history treat Obama?
The sad truth awaits us all.
According to the CBO the deficit will fall to close to a half trillion dollars in 2016. A trillion here, a trillion there, pretty soon you’re talking real money.
A ‘poison pill’ for the next administration. If it’s an (R), they will get all the blame................
Too bad we do not have a political system where the Congress and the the President does the spending.
There’s a real shock...NOT!
The damn jackass planned it that way!...The BIG MIDDLE finger to America!
if there is no growth, there is no deficit
In 2017, repeal Obamacare (Medicare expansion) and increase the age for SS entitlement to 70, phased-in over three years. Work till you’re 70, it’s what 60 was, back in the day.
Don’t worry, this will be all over the ABCNBCCBSMSNBCetc. news tonight. The bad publicity will stop him.
you mean, if the govt takes over an industry that costs $3 trillion/yr ... it’ll increase overall govt spending by at least that much?
that would mean would tax revenues of $2.4 trillion currently would have to MORE THEN DOUBLE just to break even
good luck with that
in the year 2020!
These numbers are all pie in the sky. They make assumptions that only a true idiot could not see are ridiculous.
Interest rates on the debt were double digit in the 80’s. They are only 2% now. If those interest rates go to a simple 9% now and stay there a little while then every penny the government takes in goes to pay the interest on the debt. Only a fool would think that can’t happen. Only a dim brain cannot realize that sooner or later(not much later) the mathematical reality is that all government income will be needed just to pay the interest on the debt. As the debt goes up, that magical 9% number goes down. Even as that rate goes up 1- 2% then their must either be drastic spending reduction or a far greater rate of borrowing. It is a mathematically reinforced positive loop that leads to financial destruction.
Articles like this an the CBO completely ignore reality. That is in fact why every prediction they have made in recent years have been a complete bust.
The increases will be due primarily to the entitlement programs and other mandatories, which are on automatic pilot. Obama and Congress for that matter, have no control over them save for reforming them, i.e., reducing benefits or raising taxes or some combination thereof.
He whined like a baby about the “mess” Bush left him. Well Bush’s mess isn’t going to be jack **** compared to the abortion the Kenyan is leaving for the next president. Obama should be in jail for what he’s doing to this country. This is why the Founding Fathers insisted that all presidents should be AMERICANS!!!
And just think... It took the CBO six years to figure out what we all knew from day one.