*CBO SAYS DEFICIT THIS YEAR TO AMOUNT TO $1.5 TRILLION

*CBO SAYS PUBLICLY HELD DEBT TO GROW TO 90% OF GDP BY 2020

*CBO SAYS OBAMA BUDGET WOULD PRODUCE $9.76 TRILLION IN DEFICITS

 

Not a snowball's chance in hell we get to 2020 doing this.

 

Oh, that's $1.4 trillion more than their last guess, mostly on lower tax collections (no really?)

 

Here's the problem with this new CBO number - it more than doubles the public Treasury debt float over the next nine years.

 

It also "predicts" that China and other investors will increase their holdings of US Government debt from their current $7.5 trillion (the current marketable paper) to $20.3 trillion by 2020. And under the CBO's optimistic view, interest payments would "only" quadruple, to some $900 billion annually.

 

Yet if GDP rises at a compound rate of 4% for the entire ten year period (no more recessions!) the tax base upon which to assess taxes to pay that quadrupled interest expense will expand by only 48%.

 

Best-a-luck on this one folks - we won't make it to 2020 on that trajectory before someone who has done the math (we're talking basic math here too folks, not grad school stuff) calls BS on this one.

 

http://market-ticker.org/

There's a glitch in the Matrix! Cypher, disconnect me!

I don't believe in pop culture references.

greeeattt! :thumbsup:

I don't believe in pop culture references.

 

Hahaha! Nice response.

The Matrix is a classic, not "pop culture".

It's still to modern for me. Classic is War of the Worlds original broadcast. That scared the shit out of me.

I remember hearing that one Halloween night as a kid, and loving it.

 

I think I loved the movie "Signs" for that same reason... although I don't really care for Shyamalan's other films... besides maybe "Unbreakable".

 

There are modern classics, though. Age doesn't necessarily make something better, unless it's a wine or cheese.

I'm still going with my plan of moving to Bora Bora when I'm older, so this doesn't matter much to me.

interesting banter LOL carry on... :P

China will reach the US economy in less than 35 years.

You can say that again.

There's a glitch in the Matrix! Cypher, disconnect me!

 

Isn't it meant to be Tank doing the disconnecting anyway? Geez at least get it right.

Depends on the scene. Also, I wasn't in the Matrix, so there's that slight inaccuracy as well.

 

China will reach the US economy in less than 35 years.

 

Kazakhstan will reach the US economy in less than 35 years.