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CBO: Debt "exploding" under Obama's policies

Melensdad

Melensdad

Jerk in a Hawaiian Shirt & SNOWCAT Moderator
Staff member
Left wingers are really starting to surprise me with some of their reporting. POLTICO, long a left leaning news organization, has had some objective reports lately. Maybe they just can't sweep it under the rug anymore?

CBO: Exploding debt under Obama policies

The Congressional Budget Office said Friday that President Barack Obama’s tax and spending policies will yield $6.4 trillion in deficits over the next decade, more than double the shortfall in CBO’s own fiscal baseline — even after taking credit for reduced war costs.

. . .

“CBO found that by 2016 deficits as a share of the economy would be below 3 percent – a key milestone of fiscal sustainability,” said Jeff Zients, director of the Office of Management and Budget. “It found that after implementing the president’s budget, debt held by the public will decrease and then stabilize as a share of the economy, also a key indicator of improving fiscal health.”

But all these deficit reduction numbers come with some important caveats regarding how to treat hundreds of billions in war savings as well as automatic spending cuts due to take effect in January. And even if Obama were to get his way on all fronts, the outlook remains grim.


Read more: http://www.politico.com/news/stories/0312/74109.html#ixzz1pOBxZvFn
Click to expand...
Now with massive debts, even if the "deficit" comes under control in 10 years, there will be more taxes. So what do we invest in to keep up with the tax bite that will hit us? And if inflation (due to the devaluation of our currency under Obama) continues then will we be able to find investments that keep up with both the impending tax bite + the growing inflation?
 
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