The underreported news is the new spending that will continue to increase well beyond the 10-year period that CBO examines, and that this blowout will overwhelm even the House Democrats’ huge tax increases, Medicare spending cuts and other “pay fors.”
In a July 26 letter, CBO director Douglas Elmendorf notes that the net costs of new spending will increase at more than 8% per year between 2019 and 2029, while new revenue would only grow at about 5%. “In sum,” he writes, “relative to current law, the proposal would probably generate substantial increases in federal budget deficits during the decade beyond the current 10-year budget window.”
Answer by grlygrlz2 at 8:28 AM on Aug. 6, 2009
Answer by LoriKeet at 8:30 AM on Aug. 6, 2009
Answer by grlygrlz2 at 8:32 AM on Aug. 6, 2009
Answer by itsmesteph11 at 9:27 AM on Aug. 6, 2009
Did you see this? I love the "Penny guy!"
I think this guy is going to need a bigger table to be able to continue to illustrate his point! LOL
Answer by LoriKeet at 9:31 AM on Aug. 6, 2009
Just found this one...Penny guy is branching out to Legos to illustrate his point about ObamaCare! LOL
Answer by LoriKeet at 9:39 AM on Aug. 6, 2009
I saw that report this morning. I don't think we have any idea what this program will cost. I don't think the proponents care. All the WH cares about is making sure the entitlement program is passed. What irks me is the fact that the American people have begun shouting the fact they don't want this to pass and a lions share of our representatives are not listening. Maybe we should stop calling them representatives and start calling them "the ruling class"!
Answer by jesse123456 at 9:48 AM on Aug. 6, 2009
Answer by grlygrlz2 at 10:06 AM on Aug. 6, 2009
Answer by mancosmomma at 10:07 AM on Aug. 6, 2009
Answer by lovinangels at 10:22 AM on Aug. 6, 2009