No sooner had the White House crowed about a smaller deficit than the
Congressional Budget Office reported that the country is headed toward
fiscal ruin driven by excessive spending, much of it the result of
ObamaCare.
Last Friday, in announcing the release of the administration's updated budget numbers, the acting White House budget director bragged that the deficit is undergoing "the most rapid sustained deficit reduction since World War II, and it continues to fall."
What he didn't say is that it fell from all-time highs produced by Obama's spending spree. Or that deficits will soon stop falling and — under current policies — begin a steady and unbroken climb for decades.
The CBO's long-term budget report, released on Tuesday, shows that if nothing changes, the debt held by the public will exceed the entire economy in 25 years — the first time that's happened since World War II — and will continue to climb from there.
Last Friday, in announcing the release of the administration's updated budget numbers, the acting White House budget director bragged that the deficit is undergoing "the most rapid sustained deficit reduction since World War II, and it continues to fall."
What he didn't say is that it fell from all-time highs produced by Obama's spending spree. Or that deficits will soon stop falling and — under current policies — begin a steady and unbroken climb for decades.
The CBO's long-term budget report, released on Tuesday, shows that if nothing changes, the debt held by the public will exceed the entire economy in 25 years — the first time that's happened since World War II — and will continue to climb from there.
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