My question to the spineless gutless testicleless Congressional Budget Office (CBO):
Why did you wait till now, after ObamaCare is law, to tell us what sensible people as well as the CBO already know — that America’s budget deficits are catastrophic and “unsustainable”? If you had spoken the truth before Congress passed this bill that will pile on even more deficits, there was a chance we could have stopped ObamaCare. SHAME ON YOU!
From Grassfire Nation:
This past Thursday, April 8, the head of the Congressional Budget Office (CBO), Douglas Elmendorf, said our nation’s budget deficits are “unsustainable’ and “can’t be solved through minor changes.”
Here’s the full quote:
“U.S. fiscal policy is unsustainable, and
unsustainable to an extent that it can’t be
solved through minor changes”.
“It’s a matter of arithmetic.”
The situation is so bad that Elmendorf also admitted that the CBO is beginning to study the impact of adding an entirely new tax to the federal taxing scheme: the value
added tax (VAT). The VAT is expected to be the favored new tax of Obama’s so-called Deficit Commission.
Also, recent numbers from the Treasury on the fiscal year 2010 federal budget deficit are staggering:
- A record $220.9 billion deficit in February alone
- For every dollar in taxes and other revenues the federal government took in, the government SPENT $3.05.
- Five-month deficit total: $651.6 billion, more than 10% higher than last year’s record.
- The five-month total is larger than any YEAR in American history prior to 2009.
- The FY2010 budget deficit is now projected to be $1.56 trillion AFTER stealing from the Social Security Trust fund.
The CBO projects that interest payments on the debt will total $916 BILLION annually by the end of the decade.
The big debate over Obama’s deficit-laden budget will begin
next week. If you are concerned about government spending,
please consider signing the “Stop the Spending” petition:
Total signers to date: 39,307