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Obama's Dance around Budget Deficits!
Here we go again with the passing of the baton to another dead beat administration on the backs of we the people! The aging population with military out lays into the future will cause the deficits to explode for The next President getting all the blame while Obama And Bush retired into luxury of their pensions behind gated conclaves of the wealthy.
From 35% GDP in 2008 to 77% GDP in 2024 to take care of Obama care ,Social security,Medicare and Military spending with the interest rates probably skyrocketing soon to boot!
It's just a travesty that the two political parties are just in it for themselves & not for we the people!
serf
http://blogs.wsj.com/economics/2015/01/20/obama-may-highlight-shrinking-budget-deficits-but-they-mask-mounting-debt/
Last year, the State of the Union was decidedly more upbeat. "Our deficits-cut by more than half," the president said while ticking off a series of indicators for an improving economy.
While the short-term outlook has certainly brightened, longer-term projections show deficits starting to widen and mounting debt in coming years if policy makers continue along the same path.
The Congressional Budget Office last year forecast the deficit would start climbing again in 2016. Meanwhile, debt-the accumulation of deficits-will continue to mount, heading to 77% percent of gross domestic product in 2024, the CBO projected. As recently as 2007, federal debt equaled 35% of GDP.
From 35% GDP in 2008 to 77% GDP in 2024 to take care of Obama care ,Social security,Medicare and Military spending with the interest rates probably skyrocketing soon to boot!
It's just a travesty that the two political parties are just in it for themselves & not for we the people!
serf
http://blogs.wsj.com/economics/2015/01/20/obama-may-highlight-shrinking-budget-deficits-but-they-mask-mounting-debt/
Last year, the State of the Union was decidedly more upbeat. "Our deficits-cut by more than half," the president said while ticking off a series of indicators for an improving economy.
While the short-term outlook has certainly brightened, longer-term projections show deficits starting to widen and mounting debt in coming years if policy makers continue along the same path.
The Congressional Budget Office last year forecast the deficit would start climbing again in 2016. Meanwhile, debt-the accumulation of deficits-will continue to mount, heading to 77% percent of gross domestic product in 2024, the CBO projected. As recently as 2007, federal debt equaled 35% of GDP.
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