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CBO Dire Debt Warnings Show Nation's Democrat Future


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Big Government: The Congressional Budget Office warns of a terrifying, unprecedented level of national debt in the coming decade. That fits nicely with Democrats' objectives, but not with our nation's founding principles.

 

Andrew Jackson, who in 1835 succeeded in paying off the national debt, was famous for considering debt slavery. The current fiscal path the U.S. is on does indeed lead to slavery, but the slave masters of the future will be well-heeled politicians and federal bureaucrats, not plantation owners.

 

The CBO's new budget projections contain an eerie warning that we are on path from today's already unfathomable $17.7 trillion in gross federal government debt to more than $27 trillion in 2024. This in spite of finger-crossing projections of tax revenue over the next decade exceeding its 40-year average as a share of GDP.

 

Debt will reach 78% of GDP by 2024, CBO warns, which is double the 39% average of the past 40 years.

 

The consequences will include big hikes in spending on interest payments on the debt when interest rates go back up. That, in turn, would increase the cost of investment and "the capital stock would be smaller, and productivity and wages lower, than if federal borrowing was more limited," the CBO warns.

 

It also means "less flexibility" for future Congresses "to use tax and spending policies to respond to unexpected challenges" and, most chillingly, such a massive debt "increases the risk of a fiscal crisis in which investors would lose so much confidence in the government's ability to manage its budget that the government would be unable to borrow at affordable rates."

 

The CBO baseline assumes political paralysis on entitlement spending, with mandatory outlays "steady at 13.7% of GDP from 2022 through 2024." But that would change for the better with a strong dose of statesmanship, like House Budget Committee Chairman Paul Ryan's recent "Path to Prosperity" plan.

 

Ryan cuts $5 trillion while saving Medicare for future generations, who could choose from a list of guaranteed-coverage health plans based on need. And he jump starts the economy with a tax reform aimed at generating jobs and moving away from class warfare.

 

But for proposing real solutions to America's coming fiscal train wreck, all Ryan and his fellow Republicans get from their in-denial foes are insults and slanders.

 

What exactly do President Obama and Washington's other engineers for never-ending government expansion think when they see a $27 trillion national debt facing their children and grandchildren? Like Jackson, do they behold impending slavery?

 

They apparently see themselves and their political heirs as benevolent slave masters in a new era of nanny government and an emasculated private sector.

 

A Republican party that extols personal economic freedom won't fit into that future very well, which must sound great to Democrats.

 

It has little to do, however, with the society of free people our Founding Fathers sought to secure, under a Constitution established for the express purpose of restraining government.

 

Read More At Investor's Business Daily: http://news.investors.com/ibd-editorials/041514-697266-cbo-projection-of-debt-fits-with-democrat-goals.htm

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Republicans are and always have been the spenders, Democrats are and always have been the responsible ones.

 

You guys are so brain-dead I am surprised you even bother to look at the internets anymore

 

Is that why Democrats have whittled the national debt all the way down from 10 trillion to 17 trillion during the Obama years?

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Whether it will hurt the nation is unquestioned. There is no doubt it will hurt your children. Your age is the deciding factor on whether it will hurt you or not. I am old so it will not effect me. We are paying 220 billion a year now in interest at low rates. As interest payments increase libs will raise taxes on YOU. The standard lib rant of tax the rich will NEVER happen. Oblameocare is the largest transfer of wealth from the young to the old ever devised. As the baby boom ages (10,000 a day are retiring) they (ME) will suck the system dry. Social security, Medicare are going bust and everyone knows it. We must take care of the aged (ME) no matter how much it costs (YOU). The libs are going to tax you until there is nothing left. Social security, medicare, interest on the debt. All must be maintained. Thanks. I really mean that. I can't think of a better bunch to take care of the aged and pay all of the bills. Your kids are going to be in a world of pain. Thanks again.

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Republicans are and always have been the spenders, Democrats are and always have been the responsible ones.

 

You guys are so brain-dead I am surprised you even bother to look at the internets anymore

Wow what a damn liar you are!!!!!!

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Is that why Democrats have whittled the national debt all the way down from 10 trillion to 17 trillion during the Obama years?

 

oooooooooooooooooh

 

maaaaaaaaaaaaaaath

 

ruuuuuuuuuuuuuuuun

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What this chart doesn't show is that the past 10 years we've been having to fund two very expensive land wars & occupations; fighting a war on terror; dealing with a recession; and income tax rates are at historically low levels.

 

We need to end the foreign adventurism, cut military expenditures, and raise taxes a bit. If we do that and some judicious budget cutting here & there (ahem, corporate welfare) the debt will take care of itself when the business cycle comes back around (which it will.)

 

In any case .... while some adjustments need to be made, the sky is not falling.

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What this chart doesn't show is that the past 10 years we've been having to fund two very expensive land wars & occupations; fighting a war on terror; dealing with a recession; and income tax rates are at historically low levels.

 

We need to end the foreign adventurism, cut military expenditures, and raise taxes a bit. If we do that and some judicious budget cutting here & there (ahem, corporate welfare) the debt will take care of itself when the business cycle comes back around (which it will.)

 

In any case .... while some adjustments need to be made, the sky is not falling.

all debunked lies

 

you can not fix a spending problem with more revenue

 

you could end all military expenses and take all money over $250K and not even make a dent in the debt

 

if anyone cared about the debt, they would have passed cut cap and balance

 

the mac penny plan is the only way

 

CAUTION TO LIBLOONS truth may cause seizures

 

proof... lets see anyone debunk this

 

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They always fear monger.

We went to war and cut taxes.

 

Does that ever sound like a good idea??

You would maybe have a point it revenue to the government decreased as a result of the tax cuts.

 

But it didn't.

 

At what point will an adult Congress person from the Democrat step up and join the few Reoublicans who see this cancer that will destroy this nation?

 

Only asking for one.

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talk about avoiding... where are the 30 million winners stitches ? dumbazz fkn hypocrite

 

debunk the videos...

 

stitches... no one avoids you and tommies stupidity

 

its called ignoring your stupidity

 

get it right loser...

 

How Taxes Really Work

 

This is a VERY simple way to understand the tax laws. Let's put tax cuts

in terms everyone can understand, maybe even you.

 

Suppose that every day, ten men go out for dinner. The bill for all ten

comes to $100. If they paid their bill the way we pay our taxes, it would

go something like this.

 

The first four men, the poorest would pay nothing; the fifth would pay $1;

the sixth would pay $3; the seventh $7; the eighth $12; the ninth $18; and

the tenth man, the richest would pay $59.

 

That's what they decided to do. The ten men ate dinner in the restaurant

every day and seemed quite happy with the arrangement, until one day; the

owner threw them a curve (in tax language a tax cut).

 

"Since you are all such good customers," he said, "I'm going to reduce the

cost of your daily meal by $20." So now dinner for the ten only cost

$80.00.

 

The group still wanted to pay their bill the way we pay our taxes. So the

first four men were unaffected. They would still eat for free. But what

about the other six, the paying customers? How could they divvy up the $20

windfall so that everyone would get his "fair share?"

 

The six men realized that $20 divided by six is $3.33. But if they

subtracted that from everybody's share, then the fifth man and the sixth

man would end up being PAID to eat their meal. So the restaurant owner

suggested that it would be fair to reduce each man's bill by roughly the

same amount, and he proceeded to work out the amounts each should pay.

 

So the fifth man paid nothing, the sixth pitched in $2, the seventh paid

$5, the eighth paid $9, the ninth paid $12; leaving the tenth man with a

bill of $52 instead of his earlier $59.

 

Each of the six was better off than before. And the first four continued

to eat for free.

 

But once outside the restaurant, the men began to compare their savings.

"I only got a dollar out of the $20," declared the sixth man, but he,

pointing to the tenth. "But he got $7!" "Yeah, that's right," exclaimed

the fifth man, "I only saved a dollar, too. It's unfair that he got seven

times more than me!" That's true!" shouted the seventh man, why should he

get $7 back when I got only $2? The wealthy get all the breaks!" Wait a

minute," yelled the first four men in unison, "we didn't get anything at

all. The system exploits the poor!"

 

The nine men surrounded the tenth and beat him up. The next night he

didn't show up for dinner, so the nine sat down and ate without him. But

when it came time to pay the bill, they discovered, a little late what was

very important.

 

They were FIFTY-TWO DOLLARS short of paying the bill! Imagine that!

 

And that, boys and girls, journalists and college instructors, is how the

tax system works. The people who pay the highest taxes get the most

benefit from a tax reduction. Tax them too much, attack them for being

wealthy, and they just may not show up at the table anymore.

 

Where would that leave the rest? Unfortunately, most taxing authorities

anywhere cannot seem to grasp this rather straightforward logic!

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What this chart doesn't show is that the past 10 years we've been having to fund two very expensive land wars & occupations; fighting a war on terror; dealing with a recession; and income tax rates are at historically low levels.

 

We need to end the foreign adventurism, cut military expenditures, and raise taxes a bit. If we do that and some judicious budget cutting here & there (ahem, corporate welfare) the debt will take care of itself when the business cycle comes back around (which it will.)

 

In any case .... while some adjustments need to be made, the sky is not falling.

Two points, the federal government collected $2.7 trillion in revenue for 2013 which is the most money the federal government has collected in history. Uhm taxes were raised already, guess you missed that, in fact I paid an additional $2,484 in taxes due to Obombacare in 2013.

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Two points, the federal government collected $2.7 trillion in revenue for 2013 which is the most money the federal government has collected in history. Uhm taxes were raised already, guess you missed that, in fact I paid an additional $2,484 in taxes due to Obombacare in 2013.

 

Watch out! Facts below!

 

 

0712_myo_chart1.jpg

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Watch out! Facts below!

 

 

0712_myo_chart1.jpg

I reported two facts, the CBO reports for 2013 the federal government revenues for 2013 were the most in history and taxes were raised, I paid an additional $2,484 in taxes for Obombacare in 2013. What do say about those facts?

Revenue is down, people! It's not social welfare programs. It's the wars, the recession, the military/industrial complex, the war on terror, and taxes are a bit too low.

That's not just a lie, it's a damn lie.

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