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January 26, 2016
Are you ready for a $30-trillion national debt?
The Congressional Budget Office is warning that unless measures are taken to get the federal budget under control, the national debt will soar to $30 trillion by 2026. That catastrophic number is the result of the budget deal agreed to by Obama and the GOP late last year. The combination of steep spending increases along with tax cuts will grow the federal deficit back to a trillion dollars a year by 2022 – and that's if there's no recession between now and then. Another culprit: Obamacare. Washington Times: Analysts said Obamacare will chase more workers out of the labor force over the next five years, adding pressure to an economy still struggling to spring to life more than seven years into the Obama recovery. The Affordable Care Act itself is still struggling to attract a customer base, the CBO said, lowering its estimate for the number of people who will sign up for the exchanges from 21 million to 13 million — a drop of nearly...(Read Full Post)