By Stephen Dinan - The Washington Times
* * *
The federal budget deficit will soar this year, the Congressional Budget Office reported Tuesday, after President Obama and [the Republican - in name only -] Congress gave up on austerity late last year, embracing spending hikes and massive new tax cuts that have left the government awash in red ink.
* TRUTHFULLY... I SEE NO VIABLE SOLUTION OTHER THAN VIOLENCE...
* AS ALWAYS... I'M NOT "THREATENING." I'M SIMPLY THROWING OUT MY ANALYSIS OF THE SITUATION AND GETTING TO THE BOTTOM LINE.
* THE ONLY WAY TO "FORCE" CONGRESS TO DO... WELL... THEIR JOB... WOULD BE FOR "SOMEONE" OR "SOME GROUP" TO ISSUE AN ULTIMATUM AND WHEN IT WASN'T MET... TO ASSASSINATE BOEHNER, PELOSI, MCCONNELL, AND REID... AND THEN EACH MONTH THAT CONGRESS FAILED TO BALANCE THE BUDGET... ASSASSINATE THE "NEW" SPEAKER, HOUSE MINORITY LEADER, SENATE MAJORITY LEADER, AND SENATE MINORITY LEADER.
* AGAIN... NOT A THREAT. NOT A CALL TO VIOLENCE. NOT A CALL FOR REVOLUTION. JUST... THE ONLY SCENARIO I CAN SEE AS HAVING A SHOT (GET IT! A SHOT! I MADE A PUNNY!) OF PUTTING THE FEAR OF GOD INTO THESE CRETINS AND THUS FORCING THEM INTO... DOING THEIR JOBS.
Adding to the problems is a projected rise in interest rates, which will force the government to pay higher costs as it services the trillions of dollars of debt that have already piled up over the last 15 years.
* FOLKS... REMEMBER... YES, UNDER OBAMA THE DEBT HAS DOUBLED... YES, THE DEMS TOOK CONTROL OF THE HOUSE AND SENATE IN JANUARY OF 2007... BUT BEFORE THAT... BUSH WAS PRESIDENT AND THE REPUBLICANS CONTROLLED CONGRESS ALL THROUGHOUT 2001... 2002... 2003... 2004... 2005... AND 2006.
CBO analysts say the deficit will reach $544 billion in fiscal 2016, which is a 24% leap over last year’s total.
* THANK YOU SPEAKER RYAN! THANK YOU MAJORITY LEADER MCCONNELL! THANK YOU PRESIDENT OBAMA!
It’s also deeper than what the analysts had projected in August, when they had assured Congress deficits would continue to fall slightly.
The difference is the year-end deal...
* Hmm... I'D SAY "CONSPIRACY"...
...House Speaker Paul D. Ryan and Mr. Obama reached to boost spending and approve a series of special tax breaks.
* HA! HA! NOTICE THEY DON'T EVEN MENTION MCCONNELL - AS IF THE SENATE HAS NO ROLE IN THE PROCESS...?!?!
“That increase is largely attributable to legislation enacted since August — in particular, the retroactive extension of a number of provisions that reduce corporate and individual income taxes,” the CBO said.
Overall, spending will spike by 6% in fiscal 2016, to reach $3.9 trillion, which is 21.2% of the country’s output as measured by gross domestic product.
* JUST OUT OF CURIOSITY... IS THERE ANYONE READING THIS WHO SUPPORTS THE RYAN-MCCONNELL-PELOSI-REID-OBAMA DEBT ACCUMULATION? ANYONE...??? ANYONE AT ALL BELIEVE THAT THIS IS HOW THE SYSTEM SHOULD WORK... THAT THIS IS IN THE BEST INTERESTS OF THE AMERICAN PEOPLE?
By contrast the government will collect just $3.4 trillion in taxes, or 18.3% of GDP.
(*WIPING TEARS OF MIRTH FROM MY CHEEKS*)
And those trends will continue for the next decade, the CBO report. Taxes will hold steady at about 18% of GDP, while spending will rise from 21% to 23% — producing ever-worse budget news for the next president to handle.
The CBO, which is the government’s official scorekeeper, released a summary of its latest budget projections Tuesday. A full evaluation is slated for next week, just ahead of Mr. Obama’s annual budget submission to Congress.