bushwacked Posted May 28, 2011 Share Posted May 28, 2011 (edited) The Current Long-Term Budget Outlook CBO’s most recent long-term projections were issued in June 2010. Under those projections, if revenues stay close to their average share of GDP for the past 40 years, the rise in spending that CBO projects will lead to rapidly growing budget deficits and mounting federal debt. To prevent debt from becoming unsupportable, policymakers will have to substantially restrain the growth of spending, raise revenues significantly above their historical share of GDP, or pursue some combination of those two approaches. I think the and/or part of that reality is pretty clear. Edited May 28, 2011 by bushwacked Quote Link to comment Share on other sites More sharing options...
WaterMan Posted May 28, 2011 Share Posted May 28, 2011 We are F'd. This will be worse than the NFL lockout. Quote Link to comment Share on other sites More sharing options...
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