"Now comes the CBO with yet more news of the sort that neither Capitol Hill nor the White House is likely to welcome: its freshly released report on the federal government's long-term financial situation.
To put it bluntly, the fiscal policy of the United States is unsustainable.
Debt is growing faster than gross domestic product.
Under the CBO's most realistic scenario, the publicly held debt of the U.S. government will reach 82 percent of GDP by 2019 -- roughly double what it was in 2008. By 2026, spiraling interest payments would push the debt above its all-time peak (set just after World War II) of 113 percent of GDP. It would reach 200 percent of GDP in 2038."
This is the Washington Post?!!!!
Is there a tiny bit of light at the end of the Obam-edia tunnel?
No comments:
Post a Comment