Wisconsin native.
"The true soldier fights not because he hates what is in front of him, but because he loves what is behind him."--GKC
"Liberalism is the modern and morbid habit of always sacrificing the normal to the abnormal" --G K Chesterton
"The only objective of Liberty is Life" --G K Chesterton
"A man can never have too much red wine, too many books, or too much ammunition." -- Rudyard Kipling
Keep in mind that the CBO is actually taking into account war costs now as well as the mounting health care crisis just over the horizon. Also, CBO assumes that stimulus spending will continue forever. Not the case. Most government stimulus is a 2-3 year expenditure.
Finally, keep in mind that the CBO projected massive surpluses around 2000 only to change back to massive deficits only a year later (due to the recession and unnecessary tax cuts).
These projections are pretty much unrealiable historically.
CBO uses OBAMA's budget projections (including war spending, ObamaCare Health, etc., plus the porkulus which will not be spent until 2-3 years downtrack.)
The deficits of '02 were at least partially caused by 9/11. If you were in business at the time, you know that.
Yeah the deficits of '02 were at least partially caused by 9-11, but you can bet tax cuts (rebates) around that time didn't do any good either.
"CBO uses OBAMA's budget projections"
Yes I know. Let me clarify. The current CBO esitmates are now reflecting a more accurate snap shot of future deficits than projected by previous adminstrations (that doesn't give one comfort considering the slope obviously). What I am saying is that CBO projections have been massaged in order to sugar coat the seriousness of our situation in past projections.
Picked up my shovel and I walked to the mine. (Shovel ready!)
ReplyDeleteI hauled Sixteen Tons of number 9 coal. (Coal, bad!)
Saint Peter don't you call my son cause he can't go
He owes his soul to that government whore.
Please cover up that whole, "Saint Peter" thing, ok? I don't want to appear to be endorsing any religions or anything.
ReplyDeleteThe scary part of this is how many taxpayers think all this is ok. TCO still has approval ratings in the 60's.
Keep in mind that the CBO is actually taking into account war costs now as well as the mounting health care crisis just over the horizon. Also, CBO assumes that stimulus spending will continue forever. Not the case. Most government stimulus is a 2-3 year expenditure.
ReplyDeleteFinally, keep in mind that the CBO projected massive surpluses around 2000 only to change back to massive deficits only a year later (due to the recession and unnecessary tax cuts).
These projections are pretty much unrealiable historically.
Wrong, wrong, and wrong again.
ReplyDeleteCBO uses OBAMA's budget projections (including war spending, ObamaCare Health, etc., plus the porkulus which will not be spent until 2-3 years downtrack.)
The deficits of '02 were at least partially caused by 9/11. If you were in business at the time, you know that.
Yeah the deficits of '02 were at least partially caused by 9-11, but you can bet tax cuts (rebates) around that time didn't do any good either.
ReplyDelete"CBO uses OBAMA's budget projections"
Yes I know. Let me clarify. The current CBO esitmates are now reflecting a more accurate snap shot of future deficits than projected by previous adminstrations (that doesn't give one comfort considering the slope obviously). What I am saying is that CBO projections have been massaged in order to sugar coat the seriousness of our situation in past projections.