Rajjpuut's Folly: CBO Analysis: by 2020, Obama Budget Will Bankrupt Nation

National Debt Will Grow to 90% of Gross Domestic Project by 2020

You can fool some of the people all of the time, all of the people some of the time and the Congressional Budget Office too much of the time. However, just as it’s not nice to fool Mama Nature, sooner or later the CBO usually does the job they’re paid to do and the fooling around stops. After showing the testicles of an emasculated amoeba and failing to stand up to the Obamacare budget projections last week, this week the CBO finally stopped squeaking liking mice and stood up like men and after projecting Obama’s budgets out into the future said:

http://www.cbo.gov/ftpdocs/112xx/doc11231/frontmatter.shtml

The CBO's preliminary analysis indicates the following:

If the President’s proposals were enacted, the federal government would record deficits of $1.5 trillion in 2010 and $1.3 trillion in 2011. Those deficits would amount to 10.3 percent and 8.9 percent of gross domestic product (GDP), respectively. By comparison, the deficit in 2009 totaled 9.9 percent of GDP.

Measured relative to the size of the economy, the deficit under the President’s proposals would fall to about 4 percent of GDP by 2014 but would rise steadily thereafter. Compared with CBO’s baseline projections, deficits under the proposals would be about 2 percentage points of GDP higher in fiscal years 2011 and 2012, 1.3 percentage points greater in 2013, and above baseline levels by growing amounts thereafter. By 2020, the deficit would reach 5.6 percent of GDP, compared with 3.0 percent under CBO’s baseline projections.

Under the President’s budget, debt held by the public would grow from $7.5 trillion (53 percent of GDP) at the end of 2009 to $20.3 trillion (90 percent of GDP) at the end of 2020. As a result, net interest would more than quadruple between 2010 and 2020 in nominal dollars (without an adjustment for inflation); it would expand from 1.4 percent of GDP in 2010 to 4.1 percent in 2020.

The yearly interest on the national debt as a budget entity by 2020 would prohibit virtually any semblance of normalcy. And that's NOT diminishing or paying down the debt, just paying interest upon it. As all truly aware citizens know, the reason for the upcoming drops in deficits shown by the CBO are that a series of new front-loaded taxes are about to be sprung upon the nation (great idea during a recession, eh?) to pay for Obamacare and all the projections for incredible benefits from Obamacare all the while cutting deficits is based upon the most optimistic possible scenarios for economic bounce-back.

Since the “jobs-president” rather than concentrating on jobs has been doing everything possible to annihilate jobs with his jobs-busting economic policies . . . it is very possible that the economic situation come 2020 may be considerably much worse than the CBO projects. Since the president has a whole deskload of initiatives like amnesty and citizenship for illegal aliens on his plate that are all very expensive GIBs and GSBs (Government Interference and Government Spending Boondoggles) . . . it is very possible that the economic situation come 2020 may be much, much worse than the CBO projects. Since Obama is looking to make many more “fundamental transformations” to this country . . . it is very possible that the economic situation come 2020 may be much, much, much worse than the CBO projects. It does NOT appear that Obama is through spending this year or ever.

Rajjpuut suggests three new Amendments to the U. S. Constitution (1. Obamacare and all its effects be immediately repealed 2. Federalism Amendment prevents country from passing laws that state governments must pay for such as Medicaid which is set to bankrupt every state by 2020 3. Federal spending be limited to 12.5% of the previous year’s GDP); that come November the voters reject all those who supported Obamacare; and that Obama be voted out for incompetence and operating contrary to his oath to “preserve, protect and defend the Constitution of the United States.”

http://www.politico.com/news/stories/0408/9610.html

http://www.politico.com/static/PPM41_eastafrica.html

Visit these two links. Read the words from Barak Hussein Obama, Sr., our president’s father, as he tells us the benefits of 100% taxes for Kenya. He didn't think mere socialism was good enough for Kenya, but that the country needed 100% taxes a.k.a. communism and his non-ending diatribes got him kicked out of government. His son devoted his first autobiography "Dreams from My Father" to that man but took great pains never to reveal his politics. As said and proven in these pages often before, President Barak Obama is a communist and his birth-father, mother and grandfather were all communists. The man is doing all he hoped to do, he is overthrowing the American way of life.

Ya’all live long, strong and ornery,

Rajjpuut


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LIGHTER SIDE

 

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ALERT ALERT

Obama Lies Again: – Ignores That The Year After Signing The Stimulus More Than (4) Million Jobs Were Lost

Former President Obama, the only President in US history who had his FBI and other Intel agencies spy on the opposition party candidate, claims that he created the great economy that Americans are enjoying today. The only thing Obama created was debt and massive job losses with his horrible economic recovery.

Yesterday the former President tweeted an effort to take credit for President Trump’s successful economy:

Joe Hoft@joehoft

Of course another @BarackObama lie. He can’t open his mouth without lying. 11 years ago the US lost (4.3) million jobs over the next 12 months. Horrible liar. https://twitter.com/barackobama/status/1229432034650722304 

Barack Obama  @BarackObama

Eleven years ago today, near the bottom of the worst recession in generations, I signed the Recovery Act, paving the way for more than a decade of economic growth and the longest streak of job creation in American history.

President Obama’s policies were a disgrace and a failure. He doubled the national debt in spite of zero interest rates from the Fed. His recovery was the worst in US history.

Also, Obama’s assertion is just plain false. The ‘Stimulus’ was passed in February 2009 right after Obama took over the Presidency. He promised to not pass any bills for at least a week to allow for the bills to be read by the people but lied as soon as he was sworn in. The Stimulus was hundreds and hundreds of pages of government handouts to Democrat districts and it was close to $1 million. This was not what America needed and it led to the Tea Party.

Far-left Wikipedia has this to say about the Stimulus:

Note that in his infinite wisdom, NYT economist Paul Krugman is credited with arguing that “the stimulus was far smaller than the economic crisis warranted”. (He also said the markets would crash and burn if President Trump was elected President.)

The data shows that the 12 months after Obama’s stimulus, the US lost 4.3 million jobs:

In Obama’s first three years he netted a loss of 1.5 million jobs compared to President Trump who has added more than 6.7 million jobs.

When it comes to the economy, the billionaire schools the community organizer every time.

Tucker: Bloomberg is trying to buy the election

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