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CBO: Deficits To Explode As Obama Leaves Office

Discussion in 'News & Current Events' started by Revmitchell, Jan 26, 2015.

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  1. Revmitchell

    Revmitchell Well-Known Member
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    Federal deficits may have been falling since the end of the recent recession, but thanks to spending increases in major health care programs, including Obamacare, deficits are set to explode in 2017, according to a new report by the Congressional Budget Office.

    Thanks to the recent recession and President Obama's trillion dollar stimulus, the federal budget deficit reached an all time $1.4 trillion high in 2009. Then, as the economy slowly improved and Obama's stimulus trickled to end, the deficit began to fall. According to the CBO, the deficit will continue to fall to $467 billion in 2016.

    Immediately after Obama leaves office, however, deficits are expected to rise steadily thanks mostly to growth in mandatory health care spending programs like Obamacare. By 2025 the CBO estimates that our nation's federal deficits will again top $1 trillion a year. For comparison's sake the highest deficit ever under President Bush was $458 billion.

    http://townhall.com/tipsheet/connca...ts-to-explode-as-obama-leaves-office-n1948435
     
    #1 Revmitchell, Jan 26, 2015
  2. carpro

    carpro Well-Known Member
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    The roll out of Obamacare was planned exactly that way.
     
    #2 carpro, Jan 27, 2015
  3. Rolfe

    Rolfe Well-Known Member
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    "Not on my watch."
     
    #3 Rolfe, Jan 27, 2015
  4. Deacon

    Deacon Well-Known Member
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    It was set up that way - burden the next President in line.
    0bama was surprised that he was elected to a second term - he's delayed the increases the law mandated so far - but it won't work forever.

    Fortunately he's provided an excellent way out for whoever is our next Administrator. Using executive powers they just shut the thing down. No congress necessary, it's a national disaster in the making.

    Of course he'll continue to blame the Republicans for the cost administrate foul-ups he's has make. But I'm beginning to see why they haven't done anything - it's falling apart under it's own weight.

    And all 0bama can do is complain that they are not helping to keep it afloat.
    However he is 'the Administrator' of government - not congress - and the full weight of implementation lies on him. And after 6 years he still doesn't know how to do it.

    Rob
     
    #4 Deacon, Jan 27, 2015
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