The deficit scare mongers are back

[n2doc]

Today's CBO report on the deficit has good news:

It said that currently, federal debt is roughly 73% of gross domestic product. Under current law, debt as a share of GDP is expected to fall to 68% by 2018...

But that is predictably being ignored in favor of reporting the 'bad' news:

but then steadily increase because the gap between revenue and spending will widen. By 2038, the debt to GDP ratio will reach 100%, CBO estimated, “nearly equal to the percentage just after World War II and almost triple the percentage in 2007.”

http://blogs.wsj.com/washwire/2013/09/17/cbo-deficit-to-improve-before-getting-much-much-worse/?mod=wsj_streaming_stream
Let's see....2038- 2013 is 25 years. Back in 1975, do you think they were predicting a balanced budget in 2000? In 2000, do you think they were predicting a trillion dollar deficit in 2010? The answer is No, both estimates would have been laughed at, at their times. No one can predict how the economy will be doing in 25 years, or 10 years, or what sorts of tax changes we might make in the meantime. What one (i.e. me) can predict is that this sort of worthless prediction will be used to try and cut food stamps, SS, Medicare and Medicaid.It will not be used to justify cutting defense the NSA or homeland 'security' budgets. The real question is, will people fall for this again?

[DJ13]

1. The only answer is

......more tax cuts on the 1%.

You know its coming.

[beerandjesus]

2. Thought you were going to say...

...BENGHAZI!

[n2doc]

3. They usually wait for the budget cuts to produce a near surplus, then cut taxes

Like Gov. Voldemort is doing in Florida:

http://www.northescambia.com/2013/09/scott-pitches-500-million-in-tax-cuts-gop-embraces-proposal

[DJ13]

4. Gov. Voldemort

Perfect!