Who is in charge and whose tax cut has put the U.S. debt on a, yes, unsustainable path?
Nothing about CA changes the fact that Trump's continued ineptitude has plunged the country into yet another GOP sponsored recession. Its the ONE thing that the GOP never fails to do.
Take that putz remark and shove it up you ignorant semi-literate ass. Asshole.
https://www.pgpf.org/analysis/2017/03/as-poli...ustainable
Nothing about CA changes the fact that Trump's continued ineptitude has plunged the country into yet another GOP sponsored recession. Its the ONE thing that the GOP never fails to do.
Take that putz remark and shove it up you ignorant semi-literate ass. Asshole.
https://www.pgpf.org/analysis/2017/03/as-poli...ustainable
Quote:
THE NATIONAL DEBT IS ON AN UNSUSTAINABLE PATH
CBO estimates that federal debt, which is already at high levels, will climb significantly over the next 30 years. In CBO’s latest projections, debt is expected to climb from 77 percent of GDP in 2017 to 150 percent of GDP in 2047, based on current law.
Debt at those levels would be unprecedented. Over the past 50 years, debt has averaged only 40 percent of GDP and, as recently as 2007, it was as low as 35 percent of GDP. Since 1790, our debt has never exceeded 100 percent of GDP, except for a brief time during World War II when it peaked at 106 percent, after which the debt fell rapidly as a share of GDP.
Taking action now would provide time for reforms to be implemented gradually, giving Americans time to adjust to the policy changes. The longer we wait, the more difficult it will be. Under current law, CBO estimates that for federal debt in 2047 to be no higher than its current share of GDP (77%), we would need to cut noninterest spending or raise revenues by 1.9 percent of GDP per year starting in 2018. However, if we waited 5 years to act, the size of these required reforms would grow by 21 percent.
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