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Originally Posted by Guest
So "Obama's policies" added ONLY ......... So, he did not mean it when he said the buck stops in the oval office? It was ALL congresses fault? OK, so Obama was just as inept and impotent as I have stated for the past 8 years.
Addressing the tax cuts and the estimate of adding 1.5 trillion to the national debt, you do know that is calculating a never increasing average GDP growth of about 1.5%, right? The CBO can only calculate based on known figures. The truth is that if the GDP growth averages 3%, there will be a surplus. So far, there has been a three month GDP growth of 3%.
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Exactly right. The CBO is a joke. Their numbers are usually wrong. I don't know why we even have them. They must view everything as a zero-sum game. No one looks at budgetary numbers like that.
But there will never be a surplus as long as Congress is free to spend whatever they want. Most spending these days has to do with bringing home the bacon in an effort to get re-elected. Members will agree to sign off on each other's pork, sometimes even across party lines.
There are only two things that will stop this lunacy. Number one, term limits for Congress and number two, a balanced budget amendment.