--- In [email protected], "John" <jr_esq@...> wrote: > > The CBO is taking ayuhuasca to come up with this kind of magical olution. > The chart does not show the effects of the national debt an its inheren > interest costs. >
The CBO is addressing the deficit. In order to address the debt, the deficit has to be in order. > --- In [email protected], "do.rflex" <do.rflex@> wrote: > > > > > > > > Deficit crisis? - One Chart Explains the Big Lie > > > > > > CHART OF THE DAY: > > If Congress Does Nothing, The Deficit Will Disappear > > > > > > "The Congressional Budget Office (CBO) > > projects that deficits will disappear > > entirely by the end of President Obama's > > second term (if he gets a second term) > > if Congress were to just sit on its > > hands and do nothing." > > > > > > -- On Wednesday, the Congressional Budget Office released its > > updated long-term budget forecast, which looked surprisingly like > > the previous version of its long-term budget forecast. > > > > It showed, as one might expect, that if the Bush tax-cuts remain > > in effect and Medicare and Medicaid spending isn't constrained in > > some way, the country will topple into a genuine fiscal crisis -- > > not the fake one the Congress is pretending the country's in right > > now. > > > > Republicans, of course, seized on that particular projection, > > and claimed (a bit ridiculously) that it proved the government > > must adopt their precise policy views: major spending > > cuts, particularly to entitlement programs. > > > > While all this -- from the findings to the politicization of them -- > > is perfectly expected, the forecast also presents another > > opportunity to remind people that the medium-term budget outlook > > is perfectly fine if Congress adheres to the law as it's > > currently written. > > > > That means no repealing the health care law, for one, but > > more significantly it means allowing the Bush tax cuts to expire, > > and (unfathomably) allowing Medicare reimbursement rates for doctors > > to fall to the levels prescribed by the formula Congress wrote > > almost 15 years ago. In other words, no more "doc fixes." > > > > Helpfully, CBO juxtaposed these two alternative futures in a pair > > of graphs and, just as last time, it projects that deficits > > will disappear entirely by the end of President Obama's second term > > (if he gets a second term) if Congress were to just sit on its > > hands and do nothing. > > > > Take a look at the CHART: > > http://talkingpointsmemo.com/images/CBOextendedalternative1.jpg > > > > via: > > http://tpmdc.talkingpointsmemo.com/2011/06/chart-of-the-day-if-congress-does-nothing-the-deficit-will-disappear.php?ref=fpb > > >
