CBO BOMB!

I like to present facts and nothing is better than facts directly from the government:

http://www.cbo.gov/ftpdocs/116xx/doc11659/07-27_Debt_FiscalCrisis_Brief.pdf

The quote below is right off the first page of the report.  So, it digs right into the Bomb!!!

Click on the link above to read the official report in its entirety.  Read below this small, first page excerpt from the report:

“Further increases in federal debt relative to the nation’s output (gross domestic product, or GDP) almost certainly lie ahead if current policies remain in place. The aging of the population and rising costs for health care will push federal spending, measured as a percentage of GDP, well above the levels experienced in recent decades.  Unless policymakers restrain the growth of spending, increase revenues significantly as a share of GDP, or adopt some combination of those two approaches, growing budget deficits will cause debt to rise to unsupportable levels.

“Although deficits during or shortly after a recession generally hasten economic recovery, persistent deficits and continually mounting debt would have several negative economic consequences for the United States. Some of those consequences would arise gradually: A growing portion of people’s savings would go to purchase government debt rather than toward investments in productive capital goods such as factories and computers; that “crowding out” of investment would lead to lower output and incomes than would otherwise occur. In addition, if the payment of interest on the extra debt was financed by imposing higher marginal tax rates, those rates would discourage work and saving and further reduce output. Rising interest costs might also force reductions in spending on important government programs. Moreover, rising debt would increasingly restrict the ability of policymakers to use fiscal policy to respond to unexpected challenges, such as economic downturns or international crises.”

This Government’s decisions, because a lot of them went right into our laws and were passed without consent of the people, (national poll results) will be woven into the fabric of our society, without anyone knowing what is in the laws.  Pelosi said in her own words, “You have to pass the bill before you can learn what is in the bill.” Those pesky little facts!  That simple statement is appalling to me and very ignorant for bills that are so very far reaching and will be affecting everyone’s lives.  It even undermines the very system of our Government which has been in place for hundreds of years without the people even knowing what is happening to them.  Beware, y’all, beware.  November 2nd is coming.

Steve B.