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Post by avordvet on Jun 22, 2011 16:03:00 GMT -5
Gee, ya think! CBO Issues Ominous Report on Debt: Could be on Verge of ˜Sudden Fiscal Crisis"Posted on June 22, 2011 at 1:11pm by Jonathon M. Seidl WASHINGTON (AP) A new report says that the national debt is on pace to equal the annual size of the economy within a decade, levels that could provoke a European-style debt crisis unless policymakers in Washington can slam the brakes on spiraling deficits. The Congressional Budget Office study released Wednesday offers a fresh reminder of what's at stake in ongoing talks led by Vice President Joe Biden that are aimed at slashing more than $2 trillion from the federal deficit over the coming decade as the price for permitting the government to take on more debt to pay current obligations. CBO says the nation's rapidly growing debt burden increases the probability of a fiscal crisis in which investors lose faith in U.S. bonds and force policymakers to make drastic spending cuts or tax hikes.... www.theblaze.com/stories/cbo-issues-ominous-report-on-debt-could-be-on-verge-of-sudden-fiscal-crisis/
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Post by hefferman1 on Jun 23, 2011 8:32:39 GMT -5
Sudden? What do they mean Sudden?
Some intelligent people have been screaming about this for over a decade.
The more you know the more you hate Washington D.C. Politics.
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