Cal Thomas: More of the same....

As with previous Congresses, this one (again) delayed the debt issue for two months and will have to face it again, along with what to do about the debt ceiling. Only expletives that can't be printed in a family newspaper accurately characterize this bunch, so I'll have to settle for pathetic, unprincipled and irresponsible.

This Prediction From the CBO Shows How Wrong They Were About The U.S.’ Economic Future

“Instead of publicly-held debt as a share of GDP being a microscopic 7.4% this year, it was closer to 74% – or 72.8% to be specific (as of the August update from the CBO),” Pethokoukis explains.

Yes, our national debt as a share of GDP is approximately 74 percent. This is absolutely unsustainable.

An Iraq War Every Year....

If we go by the percent of GDP, it's a close call. If we want to play it safe for the fact-checkers, we might have to say that the difference between Obama's and Bush's spending was merely the cost of the Iraq "Combat Mission," or merely the total cost of the Iraq War through Bush's presidency. If that makes fact-checkers feel better, I could do that. But for now, I stand by my statement above.

Another Recession Is Imminent....

Didn't notice the last one leaving....?!

Yesterday, the Congressional Budget Office (CBO) reported that without a doubt, America will have a fresh recession next year unless Congress and the President prevent it.

We are facing the largest tax increase in history—Taxmageddon, scheduled to take effect January 1—and what experts are calling a “fiscal cliff” of sharp and unforgiving budget changes that will send the country spiraling downward. Congress and the President have the power to prevent this, and when the August congressional recess is over, that is exactly what they should do.