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re: CBO misses 2024 deficit estimate by 27%.....looking at $2 trillion.
Posted on 6/19/24 at 4:09 pm to LuckyTiger
Posted on 6/19/24 at 4:09 pm to LuckyTiger
quote:
e have many posters here, most of the GOPe mark, that openly and repeatedly argue none of these deficits nor the debt matter.
Several of these pro Federal Reserve posters have advanced degrees in banking, finance and economics, they are all in on MMT.
0
Posted on 6/19/24 at 4:11 pm to wutangfinancial
quote:
quote:From 2025 to 2034, CBO now projects a cumulative deficit of $22.1 trillion, more than $2 trillion larger than projected in February.
Go look at the assumptions they used to come up with this
If this CBO estimate is remotely accurate we're looking at interest payments on US debt creeping towards 2 trillion/year by 2034.
Posted on 6/19/24 at 4:15 pm to OU Guy
quote:
I hope we all see the pattern. Every piece of economic data is revised down after it leaves the public’s eye. Every expense is revised up after it leaves the public’s eye. All seems to be one directional
I heard on War Room this morning the government recently trimmed 800k jobs from their 2023 jobs added report.
Posted on 6/19/24 at 4:17 pm to Bass Tiger
quote:
If this CBO estimate is remotely accurate we're looking at interest payments on US debt creeping towards 2 trillion/year by 2034.
Posted on 6/19/24 at 8:30 pm to OU Guy
US National Debt Surges $69,417,431,854 in One Day, Reaching All-Time High of $34,750,498,829,987 ( roaring towards $40 trillion )
One day!
One day!
Posted on 6/19/24 at 8:52 pm to biscuitsngravy
quote:
It should have been DeSantis.
I am pretty sure DeSantis would be pipping the same pided pipper tune off the cliff of fiscal irresponsibility.
The problem is that debt has grown so large and future expenditures have grown so large that there are no short term or midterm fixes.
Think of your household earnings and expenditures. If you are borrowing or raiding the sofa cushions for 1/3 of your monthly expenditures, eventually someone will cut you off. Or the cost of debt service will exceed the income coming in.
The only way out of this debt crisis is to grow the economy and allow some inflation to grow the GDP back to near 100% of the debt.
Posted on 6/19/24 at 9:15 pm to Bass Tiger
The irony of having a Congressional Budget Office.
Posted on 6/19/24 at 10:17 pm to Tarps99
Valid
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