Ryan: Debt on Track to Hit 800 Percent of GDP; 'CBO Can't Conceive of Any Way' Economy Can Continue Past 2037
“We’re on a debt crisis path. We are on a path where the government goes from 20 percent of GDP, to 40 percent then 60 percent of GDP. We’re on a path where our debt goes from about 68 percent of GDP to 800 percent of GDP over the three-generation window,” Ryan said.
“I asked CBO to run the model going out and they told me that their computer simulation crashes in 2037 because CBO can’t conceive of any way in which the economy can continue past the year 2037 because of debt burdens,” said Ryan.
IDK if it really matters. Our entire economic and monetary system is smoke and mirrors anyway. Ryan rolling out yet another plan that cut taxes for corporations and the wealthy, services for the poor, disabled, and elderly, and does nothing to address revenue generation seems disingenuous. It's ideologically driven, not budget driven.
I don't know if anything anyone says about the budget is reliable because they've all got an agenda.
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