These three sentences open the
article below. If you think government is doing all it can to fix what
they have broken, think again. This is not a good news story.
"The Social Security Trust Fund will run dry by 2031 and public debt will hit 100% of GDP by 2038, new projections from the Congressional Budget Office show.
The debt increase will be driven
by spending on major entitlements that grows 50% faster than the economy
and soaring interest payments, which will nearly quadruple to 4.9% of
GDP. And that relatively good scenario assumes a continuation of
spending cuts via sequestration and sharp cuts to Medicare physician
reimbursements."
Read the rest of the article here: http://news.investors.com/091713-671420-cbo-sees-budget-deficits-soaring-on-entitlements.htm?p=full
Another look, same subject. http://www.moneynews.com/Economy/Budget-Warning-Debt-Problem-Congressional-Budget-Office/2013/09/17/id/526123?s=al&promo_code=14E71-1
George Burns
No comments:
Post a Comment