Monday, July 5, 2010

The CBO Says Democrats Are Spending Us Into The Ground

The federal debt will represent 62 percent of the nation's economy by the end of this year, the highest percentage since just after World War II, according to a long-term budget outlook the nonpartisan Congressional Budget Office released today.
Lawmakers will need to pare spending on Social Security and healthcare in order to avoid tax hikes or big cuts in other federal programs, according to the analysis.
"The driver of this debt is spending," New Hampshire Sen. Judd Gregg, the top Republican on the Senate Budget Committee, told USA Today. "Our existing debt will be worsened by the president's new health care entitlement programs . . . as well as an explosion in existing health care and retirement entitlement spending as the baby boomers retire."
Spending on Social Security and Medicare and other healthcare programs will rise from 10 percent of the economy now toabout 16 percent in 25 years. By comparison, spending on all government programs, excluding interest payments, has averaged only about 18.5 percent of gross domestic product over the past 40 years, it said.
Federal spending and the $13 trillion debt are major issues in the run-up to the November congressional elections in which Republicans hope to take control of Congress away from Democrats.
The CBO urged quick action on tackling the long-term budget outlook.
"The sooner that long-term changes to spending and revenues are agreed on, and the sooner they are carried out once the economic weakness ends, the smaller will be the damage to the economy from growing federal debt," the CBO concluded.
The first wave of about 78 million U.S. baby boomers has become eligible to receive early Social Security retirement benefits, and the numbers of those receiving Social Security and Medicare health benefits will steadily rise in coming years.
When Bush was in office I had a lot of my "Democrat" friends crying about Bush's spending deficit when it was at $400 billion just before TARP. I agreed with them that the spending was out of control. They blamed Bush for the last 2 years of his admin when all the big deficits happened and I blamed the Democrats in Congress as well as Bush for not vetoing it. But now those same people say nothing about that same Congress of Democrats or the Democratic President Obama's deficit spending. Now when the Democrats talk about spending hundreds of billions of dollars they don't blink an eye.  Could it be that all those Democrats that bitched about the debt in the Bush years just needed to bitch to railroad Bush? And now that the debt is higher then ever and spending under total Democrat control is out of control they don't care any more? Could the Democratic Party be that bold to change their views on a dime? Who bitches about spending under one party and then when they get total power they change? Thanks to Obama and the Democratic Party in control of Congress for spending more money and growing our debt more then all our presidents combined. That should make everyone wake up and take note. But instead the left are trying to put us asleep with their justifications of why they have to spend like our childrens future.



  2. Time To Show The Elite 535 In Washington DC The Door And Start Over Again. Read Article Where These Elite Control 300 Million Citizens And It Must Be The Other Way Around. Dont Need Campaign Legislation,Need Voters Who Have Contributed To The Politicans In Office Wising Up And Look At What They Have Done With Their VOTEs. Rewarding The Elite 535 Over And Over Again With OUR Votes Is What Got US Here And The Vote CAN and Must Get Us Out Of It!

    Novemeber Will Be The Turning Point Of This Nation,Becoming Independant Of Debt And Growing Strong Or Going Down The Road To Bankruptsy Which This Regime Appears Ready To Do.

    Christopher You Hit The Nail On The Head Again!

  3. Chris, i am sure that alot of Democrats bitched to bitch, but more so i think they opposed the spending on war and other defense spending. Plenty of them probably feel that they would rather go broke helping Americans (social security and Medicare)than spending on invasions.

    I do remember alot of real republicans bitching about the Medicare issue with Bush, but not too many. Surprisingly Carter had a low debt-gdp and look how you feel that turned out.

    this can't be sustainable. you will see increased payroll taxes for sure. a paring of the military budget, and possible a Al special a cut in the troops overseas in Nato countries

  4. OFF TOPIC. Former Wings and Blackhawks player Bob Propert dies. SAD DAY for hockey fans.
    Me being one of them.

  5. Not that sad. i'm sad for his family and friends, but he was a sad, angry man who gave in to his demons constantly and deserved the trouble he got. If not for his ability to get coked up and hit people he would nothing more than another underpreforming hockey player who we don't remember.

  6. Joe And On That Note They Buried A Former KKK Member Today Who It Appears Was Forgiven For His DEMONS! How Many Years Was He In The KKK Anyway?

    If Not For His Ability To Keep Getting Elected He Would Be Nothing More Than A Person We Would Not Remember!

  7. Al, bob Byrds demons haunted him publically but not emotionally his whole life. Proberts demons reappeared throughout his life.

    you don't here of people talking on the radio about what a good time they had with Byrd at the KKK rallys long after he renounced them, but sports radio was filled with drinking with probie stories long after he was arrested and should have been clean and sober.

    People seemed happy to be getting drunk with a man who's drug and alcohol issues shortened his career and needed to be sober.

  8. I Was Always Of The Belief That You Let The Dead Alone And Was Just Pointing Out Joe We All Have Our Demons Unless Your "Jesus Christ" But Im Afaraid I Have Opened Up A Whole New Can Of Worms.


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