CBO Predicts 2018 Will Mean Unsustainable Debt

The CBO predicts 2018 will end a good period in American finance, but he is assuming the economy continues to recover. I expect the mainstream media, to the extent they cover the story, will spin the Congressional Budget Office report as a “glass half full” story. But the CBO predicts 2018 will be when the glass starts emptying. I think the Washington Times headline is accurate: “CBO report forecasts unsustainable debt in long term.” The economy is sluggish but growing and inflation remains Read more […]

CBO Admits There is No Way to Predict U.S. Financial Crisis

Since I posted yesterday about one cause of our impending financial crisis, here’s another issue mentioned by the Congressional Budget Office. I have written about how using fantasy figures as the basis for pensions is sending us into a financial crisis, but there are other problems as well. Even the Congressional Budget Office is admitting to the seriousness of our situation. CNS News reports, “CBO: Debt Headed to 103% of GDP; Level Seen Only in WWII; ‘No Way to Predict Whether or When’ Read more […]

Is Obamacare Financially Sound? The Truth is Hidden

We can’t tell if Obamacare is financially sound if the government is no longer tracking its finances. Yesterday, I wrote about a Washington Times report that the CBO was predicting massive price hikes for insurance that was offered through the Federal exchange or through the state exchanges. The story also gave the CBO’s spin in favor of the law: Overall, the CBO said, health care costs for the government and for private consumers are lower than expected just a few years ago. That means Read more […]

CBO: Obamacare Rates Rising Over 8% a Year

The Congressional Budget Office predicts Obamacare rates rising from 2016 through 2018. More great news about government competence and superiority to the private sector. The Washington Times reports, “Obamacare exchange customers set for significant premium spikes, CBO predicts.” [See also, “Obamacare Insurance Rates Starting to Skyrocket for 2015.”] Obamacare exchange customers are about to see spikes in their premiums, the Congressional Budget Office predicted Monday, saying Read more […]

Obamacare Deficit Running in the Hundreds of Billions

Instead of the promise of an Obamacare surplus, we have the reality of an Obamacare deficit. “I will not sign a plan that adds one dime to our deficits.” – Barack Obama. Let us revisit those CBO projections about sign-ups that are not coming true. Promises were made about the financial benefits of the Affordable Care Act, which are now turning into expensive liabilities. According to the American Enterprise Institute, “Now there can be no doubt: Obamacare will increase the deficit.” This Read more […]

Sign-ups Not Matching Obamacare Projections

The number of people signing up for insurance under the Affordable Care Act is lower than the Obamacare projections of the CBO. The ugly truth about Obamacare: We detonated the entire system of medical care and insurance in the United States–covering 330-million people–for the sake of a Democrat voting-block of 7-million. From CNBC: “Gov’t slashes 2015 Obamacare sign-up forecast by 30%” So the number “13” apparently is bad luck for Obamacare, too. Federal officials on Monday sought Read more […]

Obamacare Architect Confesses He is Lying Elitist Garbage

MIT economist and Obamacare architect Jonathan Gruber admits Affordable Care Act “written in tortured way” to deceive CBO and American voter “stupidity.” One of my friends sent this video to me earlier today, but I finally just got around to watching it. Wow. This bill was written in a tortured way to make sure CBO did not score the mandate as taxes. If CBO scored the mandate as taxes, the bill dies. Okay, so it’s written to do that.  In terms of risk rated subsidies, if you had Read more […]

CBO Analysis: Barack Obama Wants Decade of Highest Taxes In U.S. History

I posted earlier about Barack Obama’s proposed budget. Now the Congressional Budget Office has come out with some analysis. According to CNS News: In the budget proposal he presented to Congress last month, President Barack Obama called for what would be the highest level of sustained taxation ever imposed on the American people, according to the analysis published last week by the Congressional Budget Office. Under Obama’s proposal, taxes would rise from 17.6 percent of Gross Domestic Read more […]

Looking At Our Public Debt Crisis One Decade From Now

Ten years is not a long time. Think about what was happening on March 27, 2004. You probably can’t remember the exact day but you probably remember the TV shows you used to watch and some other general facts about life. Before you know it another decade will go by. 2024 is not that far away. From the Daily Caller: The fastest growing item in the budget is the net interest payment to the nation’s creditors, according to Republican staff on the Senate Budget Committee. With a current federal Read more […]

Another Extremist Discrediting Social Security? No, The CBO Director Is Sounding the Alarm

As you are probably aware, many conservatives have warned about the impending bankruptcy of Social Security. We’ve reported on it here, more than once. Conservatives are regularly ridiculed for pointing out the insolvency of Social Security. I remember Harry Reid claiming that anyone who doubts the sustainability of Social Security must be a radical. Well, now the Congressional Budget Office is finally hinting at the truth. From CNS News: The United States faces “fundamental fiscal challenges” Read more […]

GOP Had To Cave On Debt Limit So Now Crisis Draws Near

Why did the Republicans in the House and Senate feel a need to agree to raise the debt ceiling? Because they were the ones who agreed to the expenses that required greater debt. The debt deal and the farm bill both made it inevitable. There was no way to claim the moral high ground. So now we have, of course, a record level of Federal debt. The debt of the U.S. government has increased by $2.678 trillion in the 2.5 years since House Speaker John Boehner (R.-Ohio) completed his first deal to put Read more […]