Is anyone listening---or REPORTING?

[Saggy]

From the American Thinker

"Now, the Congressional Budget Office (CBO) just released its "Long-Term Budget Outlook" to confirm what people already feared: The national debt is devastating for the future of America. According to the CBO, "the federal government has been recording the largest budget deficits, as a share of the economy, since the end of World War II." As a result, the CBO paints a very bleak picture of our nation's future prospects. Further, as the world's remaining superpower, this country's terrible financial condition affects all other nations -- a fact that makes the CBO report even more alarming.

To compound the alarm, the CBO admits to understating the severity of the problem because its report does not include the negative impact that "substantial amounts of additional federal debt" would have on other aspects of the nation's economy.

We've been warned; is anybody listening?"

[FredK]

Link?

[TxMusky]

Well looky there, seems to me I remember a few people saying that, but we got beat over the head for questioning the great CBO's numbers. We Americans got shafted by a false set of CBO numbers they were forced to work with, while everyone with a brain could plainly see what was really happening. Fake numbers, fake scenarios and fake promises sure did fool a lot of idiots.

[Saggy]

Link?

FROM: The American Thinker -----JUST ADD THE .COM

[Saggy]

Well looky there, seems to me I remember a few people saying that, but we got beat over the head for questioning the great CBO's numbers. We Americans got shafted by a false set of CBO numbers they were forced to work with, while everyone with a brain could plainly see what was really happening. Fake numbers, fake scenarios and fake promises sure did fool a lot of idiots.

=========================

They are described as "useful idiots" by the Progressive/Democrats

[TxMusky]

Well considering what they voted for, I would call them the same ......minus the "useful".

[Billy_Rightwing]

Anyone see where the stock market is this morning, not liking Obama's new rules very well.

[Dave Grubb]

WOW Billy has branched out---he is more than just a renowned political sage---he is now a market analyst---who woulda thunk it

[Billy_Rightwing]

Cute Dave, you are the one for a giggle once in a while, every thing don't have to be so damn serious all the time.

[Dave Grubb]

It's a buying opportunity Billy---got any good tips?

[Truckman]

It's a buying opportunity Billy---got any good tips?

Hot air balloons...It seems there's a surplus of fuel......Ben

[Kevin]

To compound the alarm, the CBO admits to understating the severity of the problem because its report does not include the negative impact that "substantial amounts of additional federal debt" would have on other aspects of the nation's economy.

Well looky here, someone doesn't have a clue as to what the CBO does.

The CBO is charged with determining the effect of proposed policy on the federal budget. It is not charged with determining the effect on other sectors of the economy.

Maybe you and Saggy need to start actually reading that which you criticize. It is easy to cry "fake" when you don't seem to have any understanding of the numbers in the first place. The CBO never purported to be providing an economy-wide analysis. The "B" stands for "Budget". It figures out the effect on the "budget" of the United States. That's all it does. That is all it is SUPPOSED to do.

If you don't even know that much, you don't have much business talking about the evaluations they make. Here, let me help you by doing the legwork you as an adult offering an opinion about the CBO should have done for yourself:

To assist the Budget Committees and the Congress with enforcement of the budget resolution, CBO analyzes the spending or revenue effects of specific legislative proposals. (For proposals that would amend the Internal Revenue Code, CBO is required by law to use estimates provided by the Joint Committee on Taxation.) It prepares cost estimates of pending legislation and tracks the progress of such legislation in a scorekeeping system. CBO's cost estimates and scorekeeping system show how individual legislative proposals would change spending or revenue levels under current law and help to determine whether those budget effects are consistent with the targets in the Congress's most recent budget resolution. As required by the Unfunded Mandates Reform Act of 1995, CBO includes in cost estimates an assessment of whether legislation contains federal mandates and provides an estimate of the costs imposed by those mandates on state, local, and tribal governments and the private sector.

Note that their focus is always budgetary, not economic.

[FredK]

Damn now it's Kevin taking the wind out of a BO rant.

Well Dave if you bought Tesla stock at 14 I hope you dumped it at 30.

[Kevin]

Has anyone actually begun reading the report? You'll get a shock.

The CBO says that the only way the future revenue/spending situation makes sense is to allow the Bush tax cuts to sunset as they were supposed to. Extending them, as is being talked about, makes things much much worse.

Oops. Maybe cutting taxes isn't such a hot idea. They are already down too far for our present level of spending.

[Dave Grubb]

The ranters don't read anything but the lead ins at best Kevin--they remind me of my two year old granddaughter--she hasn't a clue why she is having a hissy fit---it just seems to be the thing to do at the moment