Well- also :
"Both that figure and the 25-year debt projection are slight increases from the CBO’s previous estimate, first released in September. The CBO found that U.S. debt was 73 percent of GDP in 2013 and predicted that would rise to 102 percent in 2039.It largely attributed the change from last year in its long-term outlook to pared back projections for long-term economic growth.
At the same time, the CBO said that, because of a range of policies enacted by President Obama and Congress, plus the general recovery of the economy, the 2014 deficit of 3 percent of GDP would be the lowest since 2007."
And sadly:
Neither Democrats nor Republicans seem willing to budge from their current prescriptions for the U.S. fiscal situation, especially less than four months before midterm elections.
So, here's the deal. Republicans spend too much on stupid wars (5.6 trillion so far on our bumbles in the ME) and democrats want to spend on Americans (something I think most Americans would favor.)
https://www.wsj.com/articles/study-estimates-war-costs-at-5-6-trillion-1510106400
This is exactly what the CBO said:
The CBO said the rising costs of entitlement programs like Medicare and Social Security as the U.S. population continues to age are the drivers of U.S. debt.
“Debt would be on an upward path relative to the size of the economy, a trend that could not be sustained indefinitely,” the report said.The nonpartisan watchdog said federal debt now held by the public stands at 74 percent of GDP.
Both that figure and the 25-year debt projection are slight increases from the CBO’s previous estimate, first released in September. The CBO found that U.S. debt was 73 percent of GDP in 2013 and predicted that would rise to 102 percent in 203.....................
Could not be sustained under the current system- but go to single payer, and raise taxes, and suddenly you're back on a suitable glide path. Or, you could just shaft the elderly and the sick- and hey, if we were just talking about republicans such as yourself, I'd say, "Shaft away"- but we're not. So, I think most people will want democrats and republicans to come up with something that will save the protections for the old and the sick. I suspect people who try to get rid of those protections, and who don't work to find solutions, will be voted out. But we'll see.
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