Posted by: The Elephant Owner in Economics on June 27th, 2009
From the non-partisan Congressional Budget Office:
Today CBO released the Long-Term Budget Outlook. Under current law, the federal budget is on an unsustainable path—meaning that federal debt will continue to grow much faster than the economy over the long run.
The Alternateive Fiscal Scenario (the scary one) is based on “policy that are widely expected to occur”. Barack Obama calls that Hope and Change. I call it devastating.
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