The Status Quo is Hardly Ideal

Portland Press Herald/Washington Post (August 27, 2014) Reports:

“The annual national deficit is now a “projected $506 billion in the fiscal year that ends in September, congressional budget analysts said Wednesday.  The overall national debt has continued to swell, with the portion held by outside investors growing to 74 percent of the economy – the biggest debt burden since 1950.  CBO has also lowered its 10-year deficit forecast, predicting that the nation will rack up $7.2 trillion in new debt by 2024 rather than the $7.6 trillion previously forecast. Debt held by outside investors is now projected to hit $12.8 trillion by the end of the current fiscal year, and $26.6 trillion by 2024.  Douglas Elmendorf, CBO director, said in a briefing for reporters that “the status quo is hardly ideal.  Over the long run,debt would be quite high by historical standards and on an upward path relative to the size of the economy, a trend that would impose substantial costs and could not be sustained indefinitely.””

“Like the influx of illegals at the southern border as well as the truth about Benghazi, ISIS over-running Iraq, or the war in Israel, the national deficit is being ignored by President Obama followed in step by Dan Lipinski.  Like it will all go away if we don’t pay attention.  When will they face the gnawing truth about the harsh realities of “debt” that face the citizens of our country on a daily basis?  Only you can demand accountability of our elected officials.” — Sharon Brannigan

Vote Brannigan on November 4th

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