Long-term budget outlook 'daunting', CBO says

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#1 Wed, Jun 22, 2011 - 10:43am
Joined: Jun 14, 2011

Long-term budget outlook 'daunting', CBO says


Sorry folks the news is coming fast so I am trying to pump it out there as quick as possible, should slow down soon.

Be well

Edited by: Shill on Nov 8, 2014 - 5:06am
Wed, Jun 22, 2011 - 11:44am
Robert LeRoy Parker
Joined: Jun 14, 2011

Debt will only get worse

This chart taken from ftalphaville assures us the debt ceiling will be raised before the august 2nd deadline. The treasurie's cash on hand during august will simply not be enough to satisfy payments on maturities without an increase in the debt limit. What a joke! And now zerohedge is commenting of more hedonics being added to the cpi calculator. Inflation is here, the US is broke, and the income inequality gap keeps on growing. My money is on a crash that makes 2008 look tame within 1 year from now. I just wish I could opt out of SS now so I could put that money into physical gold instead. Too bad I should be more worried about confiscation instead.