Saturday, May 22, 2010

Casey Research: Perfect Storm of Debt to Hit US

President Barack Obama’s new fiscal commission, organized in response to a Congressional Budget Office projection that the United States will accumulate $6 trillion in debt during the next decade, is mostly for show, say three researchers from Casey Research.

Though the commission’s task is to come up with ways to limit future deficits to 3 percent of GDP, the 3 percent limit is “just a hoop for the clowns to jump through,” says Casey.

“U.S. government finances are now past the point of no return,” Casey researchers write in a report. (more)

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