Saturday, September 24, 2011
CBO Testimony About Budget Options
Thus, according to CBO’s projections under current law, even with the new constraints on discretionary spending, federal spending excluding net interest will grow to 19.9 percent of GDP in 2021—compared with the 40-year average of 18.6 percent. And the composition of that spending will be noticeably different from what the nation has experienced in recent decades: Spending for Social Security and the major health care programs will be much higher, and spending for all other federal programs and activities, except for net interest payments, will be much lower. Alternatively, if the laws governing Social Security and the major health care programs were unchanged, and all other programs were operated in line with their average relationship to the size of the economy during the past 40 years, total federal spending excluding net interest would be much higher in 2021—nearly 24 percent of GDP. That amount exceeds the 40-year average for revenues as a share of GDP by nearly 6 percentage points—even before interest payments on the debt have been included.SuperDoc has me doing research on various aspects of breast cancer, which is making me twitch. Thus, I find reading such as the above less troublesome in contrast. This may not be true for all, so if you are having a good weekend you might want to postpone that link until Monday!
Might I suggest reading something a bit more upbeat?
The Case of Charles Dexter Ward - H.P. Lovecraft
"From a private hospital for the insane near Providence, Rhode Island, there recently
disappeared an exceedingly singular person. He bore the name of Charles Dexter Ward,
and was placed under restraint most reluctantly by the grieving father who had watched
his aberration grow from a mere eccentricity to a dark mania involving both a possibility
of murderous tendencies and a profound and peculiar change in the apparent contents of
his mind. Doctors confess themselves quite baffled by his case, since it presented oddities
of a general physiological as well as psychological character."
It's just a bit more upbeat of course (on a relative scale). I'm not a believer in shock and awe reading therapy, lol. ;)
If you have to plow through morbidity and mortality stats enough, this sort of thing starts looking pretty rosy, because it's not a fatal case. Yet.
The patient is going to have to adopt severe lifestyle changes, but the patient can survive. It's good news, really.
Soooo - your opinion is that if H.P. Lovecraft were alive now he'd be a CBO statistician?
I would never suggest that.
Correlation does not imply causation! ;)
the wars on terror were designed to bankrupt
the country in order to reshape the political landscape and roll back the safety net. Add the destructive policies of the FED and the bottom 80 percent dont stand a chance.