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Friday, June 19, 2015
U.S. government debt held by the public is expected to rise to 107 percent of the economy by 2040
The Congressional Budget Office said an aging population and rising health-care costs are the reasons. CBO also said major changes in spending policies or tax policies are needed to put the federal budget on a sustainable long term path. In the meantime, higher interest rates, rising health-care and Social Security costs will boost government spending, which will also continue to widen the deficit.
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2 comments:
2040 ?
I'll be dead by then and so will our country!
Our "representatives', mostly multi-millionaires and lawyers, have been spending hundreds of BILLIONS of dollars that THEY know we don't have.....
If you or I, or anyone else in the "we, the people" demographic, writes bad checks, over and over, WE go to PRISON. PRISON.
Our "representatives", supposedly smart and financially competent, do this all the time, 24-7, and take their whole family on a "fact finding mission" to the Great Wall, or a "jobs initiative" trip to Rio.
Equal Justice under the law for everyone.
Everyone, that is, who isn't exempt under the "two sets of laws" thing.
Keep cheering.
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