Tuesday, July 14, 2009
Please Don't Tell Obama What Comes After a Trillion!
The American Spectator : Please Don't Tell Obama What Comes After a Trillion!: "Even the Washington Post, citing recent studies by the Congressional Budget Office (CBO), runs lead editorials with titles like 'The Debt Tsunami.'
'To put it bluntly, the fiscal policy of the United States is unsustainable,' opines the Post.
Under reasonable assumptions, the CBO says the publicly held debt of the U.S. government is heading to 82 percent of GDP by 2019, double that of 2008. With increasing interest payments over time, the debt will reach a record level of 113 percent of GDP in 2026 and 200 percent in 2038."
'To put it bluntly, the fiscal policy of the United States is unsustainable,' opines the Post.
Under reasonable assumptions, the CBO says the publicly held debt of the U.S. government is heading to 82 percent of GDP by 2019, double that of 2008. With increasing interest payments over time, the debt will reach a record level of 113 percent of GDP in 2026 and 200 percent in 2038."
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