Wednesday, June 22, 2011

It's STILL The Spending, Stupid!!

Paul Ryan's press release on today's CBO report:

...The CBO projects that government spending as a share of the economy will increase by nearly 70 percent between now and 2035, up from its historical average of roughly 20 percent. Taxes are projected to rise to the historical average in the years ahead, yet the unprecedented growth in government spending is projected to rise much faster, driving an unsustainable explosion in debt

...The CBO report states that “Growing debt also would increase the probability of a sudden fiscal crisis, during which investors would lose confidence in the government’s ability to manage its budget and the government would thereby lose its ability to borrow at affordable rates.”

...The CBO report affirms that the massive health-care overhaul fails to address the explosion in health care costs. Mandatory federal spending on health care will increase by 86 percent from 5.6 percent of GDP today to 10.4 percent of GDP over the next 24 years

We've been very happy to buy the line (of BS) from the pols since.......oh.....1964.......that 'spending is wunnerful, and deficits don't matter.'

We were stupid, and they lied.

Now the piper calls.

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