Oh, Joe! (Biden) Say it ain't so......
We ARE going bankrupt!!!
Director’s Blog � Blog Archive � The Long-Term Budget Outlook:
Today I had the opportunity to testify before the Senate Budget Committee about CBO’s most recent analysis of the long-term budget outlook.
Under current law, the federal budget is on an unsustainable path, because federal debt will continue to grow much faster than the economy over the long run. Although great uncertainty surrounds long-term fiscal projections, rising costs for health care and the aging of the population will cause federal spending to increase rapidly under any plausible scenario for current law."
Friday, July 17, 2009
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