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2010-03-07 Home Front: Politix

Surprise surprise, CBO sez national debt to be higher than WH forecast

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Posted by gorb 2010-03-07 00:27|| || Front Page|| [9 views ] Top

#1 I am so shocked! How can that be? But the WH told us differently. Just another reason not to trust any health care reform coming out of this administration.

Health care reform is like rape. Just as rape is about power and control, health care reform in Washington is too.

Posted by JohnQC 2010-03-07 09:00|| 2010-03-07 09:00|| Front Page Top

#2 "unexpected" but not "unprecedented". Theme of this loser admin

Posted by Frank G 2010-03-07 10:30|| 2010-03-07 10:30|| Front Page Top

#3 Even this vastly understates the problem. The Federal budget deficit does not equal Federal debt. For instance the Fed deficit for 2009 and 2010 is projected at $3.0 trillion, but the national debt increases by $4.5 trillion to $14.456 trillion. The difference is made up by ~~stealing~~ borrowing from the Social Security trust funds which guarantees it won't be there when the baby boomers retire. All that's happening, at best, is the heroin addict is delaying the day of reckoning another 10 years. In 20 years old (and young) folks are going to think Alpo is a luxury.

Posted by ed 2010-03-07 19:18|| 2010-03-07 19:18|| Front Page Top

#4 Did the Social Security trust funds ever really have money in them? Because from the beginning they paid out funds collected from workers that (or the previous) year.

Posted by trailing wife 2010-03-07 22:37|| 2010-03-07 22:37|| Front Page Top

#5 That's a debatable question since government accounting would land people in prison if a civilian company ever tried it. However, SS is still collecting more money than it pays out. The gov "borrows" from the balance (the SS Trust Fund) to run continuing operations. But worse news, just last year Medicare started paying out more than it took in and the Medicate Trust Fund will soon be broke.

Posted by ed 2010-03-07 23:26|| 2010-03-07 23:26|| Front Page Top

#6 "90% of GDP" > Yep, 'twas all over CNN + CNBC + FOX this AM. The PRO-BAMMER BUDGET, ECONO PERTS tried hard to put on a HAPPY/STRAIGHT FACE at that particular bit of analysis from the CBO, but I doubt any of the Newsies were impressed, not even CNN.

Posted by JosephMendiola 2010-03-07 23:52|| na 2010-03-07 23:52|| Front Page Top

23:59 JosephMendiola
23:54 JosephMendiola
23:52 JosephMendiola
23:48 anymouse
23:30 ed
23:26 ed
23:13 ed
23:11 ed
23:08 Beau
23:02 phil_b
23:00 Pappy
22:53 trailing wife
22:46 trailing wife
22:37 trailing wife
22:28 gorb
22:25 Andy Ulolusing3083
22:24 GirlThursday
22:15 gorb
22:15 gorb
22:10 lotp
22:05 Karl Rove
22:05 Andy Ulolusing3083
21:59 trailing wife
21:58 ~~war on terror~~