Gloomy Outlook for Federal Budgets

[rumguy]

"Keeping the federal budget at or near balance over the next 50 years could require painful tax increases, spending cuts or both, the Congressional Budget Office says.

In a look at the government's long-term budget outlook, Congress' nonpartisan fiscal analyst offered possible combinations of tax and spending changes, all of which would leave lawmakers choosing among politically unpalatable options.

Even so, some still would leave the government in fiscal peril. Yet, failing to act would drive the accumulated federal debt to unsustainable levels, said the study, released Friday.

"Taken to the extreme, such a path could result in an economic crisis," including the possibilities that foreign investors would pull out, the dollar's value plunge, interest rates and prices soar and stock markets collapse."




http://www.salon.com/news/wire/2003/12/22/budget/index.html

[ProfessorGAC]

1. Gee, Ya Think!

What geniuses put this brilliant analytical piece together? Great conclusions, here. If we get too far out of balance it will take drastic measures to get back to balance.

Well, of course. Duh! These are probably the same economic and fiscal geniuses who thought the tax cuts were a good idea.
The Professor

[RWPTRBL]

2. Way to go George...

you Idiot!!! Too bad we couldn't put him in the "Hole" that they pulled Sadam out of. The most amazing part of all is it is so obvious that our country is going to shit and Idiots approval rating goes up. God help us!!!

[rumguy]

3. Thank god his approval rating isn't very good

Clinton's was higher during the impeachment fiasco!

[Indiana Democrat]

4. Oh, for the days of President Clinton!

What are our children and grandchildren going to say about the debt we're running up now??

[rumguy]

5. It's easy to steal money from people who have to be in bed by 8 PM

I stole that from a fellow DUer

[newyawker99]

6. Hi Indiana Democrat!!

Welcome to DU!! :toast:

[okieinpain]

7. well it's obvious that these idiots haven't been listening to the

* in charge. don't they know that the tax cuts will allow the sheeple to spend more money. and when they spend more money the gov will take in more money. dah!!