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It seems like with their newest estimates that they are predicting no recession in the next decade and 2 percent inflation despite the fact they predict rising T-bill rates.
I think it is crazy that the CBO projects 240 months of no recession and 2 percent inflation.
I guess if they predicted more than 2 percent inflation, that would cause government expenditures and debt to skyrocket even more.
It is also just a guess anyway and based on the massive surplus they were predicting this year in 2008, those highly educated economists who get paid six-figures plus pensions track record isn't very good.
It seems like with their newest estimates that they are predicting no recession in the next decade and 2 percent inflation despite the fact they predict rising T-bill rates.
I think it is crazy that the CBO projects 240 months of no recession and 2 percent inflation.
I guess if they predicted more than 2 percent inflation, that would cause government expenditures and debt to skyrocket even more.
It is also just a guess anyway and based on the massive surplus they were predicting this year in 2008, those highly educated economists who get paid six-figures plus pensions track record isn't very good.
Uh, we were getting quite close to a balanced budget and the trend would have been to have it that way in the next 2-3 years (follow the graph).
The CBO had no way of knowing that Trump would be so irresponsible to go into debt and deficit 1.5 Trillion immediately and then to actually raise spending.
We had the chance...but the self-proclaimed "King of Debt" doesn't believe in paying your debts. This is a horrible thing because it stacks them onto our children and their children.
Quite the crystal ball they have there.
I wonder if they will answer a lottery question for me.
Like: what's the winning numbers going to be next week ?
Aren't these the same idiots who said Obamacare would have 30-40 million covered, premiums would go down and at least break even?
Uh, it did cover VASTLY more people and covered many others with actual insurance that had minimum standards.
As to the cost curve, here is some of the story. Let me translate. This chart includes no effects of the ACA, since many parts didn't go into place until 2013 and even 2014 or after. Note that "BushCare" - or, more accurately, the cost of doing NOTHING....meant not only bankruptcies, suffering and vast numbers without insurance, but a rise in cost from about $4500 per person per year to $9000 per person per year. We are currently at somewhere between 10K and 10.5K. Do the math. The cost curve WAS flattening AND we had more people covered AND we had our kids on longer, included preventative care and minimum standards. So we got much more....for much less.
Only the math challenged wouldn't be able to see that. The steepest rise is clearly under GW. Also, at the same time, the insurance companies were dropping anyone who they thought would cost them money, denying claims left and right and selling policies which were "con jobs". But I guess people enjoy payng for for less and being conned.
Uh, we were getting quite close to a balanced budget and the trend would have been to have it that way in the next 2-3 years (follow the graph).
The CBO had no way of knowing that Trump would be so irresponsible to go into debt and deficit 1.5 Trillion immediately and then to actually raise spending.
We had the chance...but the self-proclaimed "King of Debt" doesn't believe in paying your debts. This is a horrible thing because it stacks them onto our children and their children.
I have a bridge to sell you.
#1 Obama's last full Fiscal Year (October 1st 2015 to September 30th 2016) saw the national debt climb by $1.42 Trillion.
#2 Obama who blasted Bush for off-budget expenses as a gimmick for hiding debt did it more than Bush. Wow our budget is nearly balanced while debt is growing quicker!!!
#3 Entitlement programs were set to rise in deficits and will continue to do so.
#4 We are at all time low interest rates, as it climbs it will increase the national deficit by hundreds of billions of dollars a year.
P.S. Yes Trump is failing on the national debt. But so did Obama and it wasn't getting better.
Uh, we were getting quite close to a balanced budget and the trend would have been to have it that way in the next 2-3 years (follow the graph).
The CBO had no way of knowing that Trump would be so irresponsible to go into debt and deficit 1.5 Trillion immediately and then to actually raise spending.
We had the chance...but the self-proclaimed "King of Debt" doesn't believe in paying your debts. This is a horrible thing because it stacks them onto our children and their children.
Any Democratic candidate that is taken seriously in 2020 or 2024 will have to promise lots of expensive goodies paid for by more debt.
The tiny, little bit of debt that Trump has increased in the name of a thousand or two for American workers to put food on the table and pay rent is nothing like what radical liberals that Democrats are wanting to run in 2020 like Bernie Sanders, Camilla Harris and Eric Garcetti are going to be proposing.
I don't think people can even imagine the free goodies the Democrats are going to promise in desperation for votes in 2020 every social program one could think of they are going to come up with and more. They also want millions of people from third-world countries to cash in on their new social programs.
America loves those huge tax cuts that President Trump signed into law and Democrats already know that campaigning on increasing taxes is a lost cause and will likely cost them millions of votes.
I think it would be funny for Democrats to have a commercial about that a thousand or two extra yearly is just crumbs and they want it to forgive all those student loans that many college student got themselves into by living luxury lifestyle for a decade while they went to "grad" school and studied in Europe and also want to expand government programs like section 8 luxury housing program and EBT obesity-program.
Last edited by lovecrowds; 05-05-2018 at 10:28 PM..
If you have really dumb children and you are worried they won't amount to anything, just encourage them to be economists.
Their mental shortcomings won't be an issue, because economists are known for being wrong every time, and they'll be well paid.
If you have really dumb children and you are worried they won't amount to anything, just encourage them to be economists.
Their mental shortcomings won't be an issue, because economists are known for being wrong every time, and they'll be well paid.
Economist or a weatherman. Even after you are totally wrong people still look to you for future answers.
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