CBO: gross federal debt to be 33 trillion in 2029 with over 20 years without a recession. (unemployment rate, politician)

[lovecrowds]

Even the best dog and pony show can't make the numbers look good when it comes to debt. Almost laughable how any politician could even consider any sort of expansion of the safety-net programs.

The 33 trillion gross debt in just a decade assumes no recession for over 20 years with unemployment rates staying lower than 5% during the entire period and inflation sitting at 2%.

Wonder how Medicare for All, $500 prize each month as proposed by Kamala Harris, free college and wiping the slate clean of student loan borrowers is going to increase the debt?

https://www.politico.com/story/2018/...x-break-913131

The CBO is basing those numbers on nominal GDP never going below 3.7%, unemployment rate never going above 4.8%, inflation never going above 2.2%

Sort of interesting how the CBO and federal government are predicting that there will be 20+ years without a recession or even any thing close to a recession.

https://www.cbo.gov/system/files?fil...18-Outlook.pdf

[turkeydance]

it is great to have printing press.

[craigiri]

Originally Posted by lovecrowds

Even the best dog and pony show can't make the numbers look good when it comes to debt. Almost laughable how any politician could even consider any sort of expansion of the safety-net programs.

Even more laughable would be how any Politician can support a tax cut - out of debt and deficit.

OR, how any decent citizen could do so.

And yet, they do.

Perhaps you have the answer as to why? After all, given an "economic miracle never seen before in history" why do we have to indebt our kids and stop short the actions of the Fed to get back to "normal" interest rates?

Well, I think the answer is quite obvious - especially to those who get around and see various areas and different populations (poor, etc.).