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Thread: CBO: Debt Will Rise to 90% of GDP

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    CBO: Debt Will Rise to 90% of GDP

    President Obama's fiscal 2011 budget will generate nearly $10 trillion in cumulative budget deficits over the next 10 years, $1.2 trillion more than the administration projected, and raise the federal debt to 90 percent of the nation's economic output by 2020, the Congressional Budget Office reported Thursday.


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    Vulture of The Western World Eric's Avatar
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    Quote Originally Posted by dBrong View Post
    President Obama's fiscal 2011 budget will generate nearly $10 trillion in cumulative budget deficits over the next 10 years, $1.2 trillion more than the administration projected, and raise the federal debt to 90 percent of the nation's economic output by 2020, the Congressional Budget Office reported Thursday.

    But we'll have freeeeeeeeeeeeeeee health care, right?

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    Quote Originally Posted by Eric View Post
    But we'll have freeeeeeeeeeeeeeee health care, right?
    This health care is a new type of scam - I say new because we now have a Congress that is passing laws that won't go into effect for years.

    If 'we' (the American people) don't act soon there will be nothing left to save.

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