The Down Range Forum
Member Section => Politics & RKBA => Topic started by: ericire12 on May 11, 2009, 02:52:58 PM
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http://hotair.com/archives/2009/05/11/cbo-2009-deficit-50-greater-than-expected/
CBO: 2009 deficit 50% greater than expected
The director of the Congressional Budget Office today updated his projections for the budget and economic outlook and is now anticipating a $1.8 trillion deficit this year, and $1.4 trillion in 2010.
This is up from CBO director Douglas W. Elmendorf’s January 2009 projection of a $1.2 trillion deficit this year. In short, the US government is borrowing 50 cents for every dollar it spends.
The new projected deficit is four times the 2008 deficit, which was a record high for its time.
The result, according to the CBO, would be an ever-expanding national debt that would exceed 82 percent of the overall economy by 2019 — double last year’s level — and threaten the nation’s financial stability.
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"The result, according to the CBO, would be an ever-expanding national debt that would exceed 82 percent of the overall economy by 2019 — double last year’s level — and threaten the nation’s financial stability."
And yet they do it anyway. >:(
I need to talk to my bank and see if they'll let me spend my way out debt.
Sometimes I wish it would all just collapse so we can start over.
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Sometimes I wish it would all just collapse so we can start over.
You may well get your wish.
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You may well get your wish.
This is the early part of a collapse, and it won't be pretty.
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This is the early part of a collapse, and it won't be pretty.
Neither is surgery, or taking a shit, but you have to do what you have to do.