dejavu22
07-27-2011, 05:49 PM
Ok so i was listening to someone today talk about the debt stuff and they have been saying that all of these savings numbers are based upon the expected spending from the CBO over the next 10 years. That number according to the CBO website is 42.883 trillion.
http://www.cbo.gov/ftpdocs/108xx/doc10871/Chapter3.shtml
Now with that being said we are currently at 0 growth assuming we don't raise taxes we will be getting taking in basically 2.4 trillion a year which means 24 trillion over the next 10. So by the way that that everyone has been advertising their debt savings numbers we will be worse off than we are today in 10 years unless there is a debt savings of 18.883 trillion over the next ten years and that is only break even let along paying off some of the debt.
The magic number is 19 trillion and we have not even been to half of that meaning that there is no one who is taking this issue seriously yet. Imo i would like to see it closer to 22 trillion so we could be showing a 20% reduction in debt over the next 10 years but that is beyond a pipe dream at this point.
http://www.cbo.gov/ftpdocs/108xx/doc10871/Chapter3.shtml
Now with that being said we are currently at 0 growth assuming we don't raise taxes we will be getting taking in basically 2.4 trillion a year which means 24 trillion over the next 10. So by the way that that everyone has been advertising their debt savings numbers we will be worse off than we are today in 10 years unless there is a debt savings of 18.883 trillion over the next ten years and that is only break even let along paying off some of the debt.
The magic number is 19 trillion and we have not even been to half of that meaning that there is no one who is taking this issue seriously yet. Imo i would like to see it closer to 22 trillion so we could be showing a 20% reduction in debt over the next 10 years but that is beyond a pipe dream at this point.