CBO reports that US is on unsustainable budget course as spending exceeds revenues.
from MyBudget360.com:
A recent CBO report came out with a rather sobering outlook of our
governmental spending habits. The word “unsustainable” is probably not
something you want uttered in a report about meeting a budget. Yet that
has been our recent trajectory when it comes to spending. The massive
financial crisis and subsequent bailouts have resulted in a titled economy favoring
a small group of people. The same engine that led us into this problem
is still humming along and the too big to fail have now become the way
too big to fail banks. So unsustainability is the spine fueling the
current recovery. Debt upon debt only works until you reach tipping
points. US households hit that point a few years ago as the housing
bubble imploded. To think that this path of acquiring debt upon debt to
pay for expenditures is sustainable is going to cause deeper
instability into an already shaky system.
Read More @ MyBudget360.com
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from MyBudget360.com:
A recent CBO report came out with a rather sobering outlook of our
governmental spending habits. The word “unsustainable” is probably not
something you want uttered in a report about meeting a budget. Yet that
has been our recent trajectory when it comes to spending. The massive
financial crisis and subsequent bailouts have resulted in a titled economy favoring
a small group of people. The same engine that led us into this problem
is still humming along and the too big to fail have now become the way
too big to fail banks. So unsustainability is the spine fueling the
current recovery. Debt upon debt only works until you reach tipping
points. US households hit that point a few years ago as the housing
bubble imploded. To think that this path of acquiring debt upon debt to
pay for expenditures is sustainable is going to cause deeper
instability into an already shaky system.Read More @ MyBudget360.com
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