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Topic: CBO director: Debt will be
unsustainable without ‘significant’
changes to entitlements or broad
tax hikes |
CBO director: Debt will be
unsustainable without ‘significant’
changes to entitlements or broad
tax hikes
Washington Examiner, by Philip Klein
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Original Article
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Posted By:KarenJ1, 2/12/2013 1:29:46 PM
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| Throughout his presidency, President Obama has advanced the idea that the nation’s mounting debt problem could be solved by “modest adjustments” to entitlement programs and asking wealthy taxpayers to pay just a little bit more. But in Senate testimony today, Congressional Budget Office director Doug Elmendorf communicated that it wasn’t quite that easy. Under questioning from Sen. Ron Johnson, who highlighted the dire state of Medicare and Social Security finances, Elmendorf stated that putting the budget on a sustainable path would require major reforms to entitlement programs or massive tax increases that would hit the middle class.
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Comments:
We know which one 0bama will choose! How many times do we have to hear the warnings before they do something? I know, 0bama flat out doesn´t care if everything crashes and burns. Nothing will be done. It´s beyond frustrating to watch this slow motion train wreck.
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Reply 1 - Posted by:
snapper451, 2/12/2013 1:36:16 PM (No. 9172364)
It´s time to stop kicking the can down the road. We need real leaders, who will make the tough decisions and that is certainly not what we have today. The Tea Party needs to rise up again!
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Reply 2 - Posted by:
Sunsong, 2/12/2013 1:45:43 PM (No. 9172397)
Well duh
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Reply 3 - Posted by:
6079 Smith, W, 2/12/2013 1:49:55 PM (No. 9172408)
...and broad tax hikes won´t do it, so that leaves significant changes to entitlements. Who will have the courage to do that? Certainly not politicians!
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Reply 4 - Posted by:
horacer, 2/12/2013 1:50:13 PM (No. 9172409)
Biggest no duh in history. Jack Lew our next Treasury Secretary will argue against any entitlement reform. Obama will do as he says, cause Jack knows his values.
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Reply 5 - Posted by:
King of all trolls, 2/12/2013 1:56:07 PM (No. 9172426)
We are broke. And the GOP solution is amnesty for 11-20 million illegal guests, most of whom are uneducated and will end up on government dole.
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Reply 6 - Posted by:
schnapps, 2/12/2013 2:51:41 PM (No. 9172535)
CBO director Doug Elmer Fudd´s best calculations are in how he keeps his job. Tells the Øbamaroids what they want to hear and, under oath before the Senate, lets the truth out in harmless little sound bites.
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Reply 7 - Posted by:
Axeman, 2/12/2013 3:12:22 PM (No. 9172563)
By "broad" he means the 49% and low margins are going to have to be significantly hit. There is not enough money anywhere else.
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Reply 8 - Posted by:
bobgray2, 2/12/2013 3:21:41 PM (No. 9172577)
It isn´t that the top 5% isn´t paying enough. It is that the bottom 50% isn´t paying anything. And yet somehow they are the ones receiving most of the government services.
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Reply 9 - Posted by:
oh-heck, 2/12/2013 5:44:59 PM (No. 9172841)
You beat me to the punch #2. The trustee report for Medicare has been calling for a 50% reduction in benefits or a 100% increase in premiums since 2009.
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Reply 10 - Posted by:
udanja99, 2/12/2013 8:27:42 PM (No. 9173137)
Tax hikes will be spent by the messiah before they ever even arrive at the IRS.
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