CBO Forcasts

[Obamanation]

For the next 10 years the CBO forecasts anemic GDP growth, continual huge deficits and Obamacare costing more than previously estimated. Big surprise. NOT! Even the O-loving WA Post admits: “But if the CBO’s projections turn ...out to be right, our economy has a huge problem, and it’s getting worse, not better.” Don’t worry WA Post, the CBO is seldom right, it’s usually too ROSY!

In 2003, the CBO projected a $5.6T budget SURPLUS over the next decade! And get this. Agencies are required by fed law to estimate the paperwork burden caused by new fed rules/regulations.

Based on these estimates, a new report shows Obamacare will require 127,602,371 in additional labor hours/year! That’s 63,801 full-time (40 hours/week) employees. Apple has only 47,000 US workers, but creates 10 times that in indirect jobs. And Apple makes something. Obamacare makes paperwork, misery and loss of freedom. The feds are killing America, and sorry media, no DC “compromises” or “moderate proposals” are going to save it!

 

[uscitizen]

So the CBO FINALLY started reading my posts!
About time.

uscitizen, way ahead of the curve as per usual.

 

[Charles_Main]

Libs on this board are more than happy to talk about another CBO prediction that Deficits will drop below 1 Trillion, but SHUT THE FUCK up about the rest of what they have to say, because its all bad, and does not fit their Narrative.

 

[Zander]

The CBO doesn't have the best track record with long term projections....

 

[Obamanation]

The CBO doesn't have the best track record with long term projections....

Yeah, they are ALWAYS low. Scary, huh?

 

[NYcarbineer]

GDP growth will be slow because government is shrinking and government is 40% of GDP.

 

[Obamanation]

...government is shrinking...

hahahahahahahahahahahahaha!!!

 

[Avorysuds]

GDP growth will be slow because government is shrinking and government is 40% of GDP.

I know, scary how out of control Government has become, huh?

 

[Charles_Main]

GDP growth will be slow because government is shrinking and government is 40% of GDP.

And Government should not be 40% of GDP

 

[uscitizen]

GDP growth will be slow because government is shrinking and government is 40% of GDP.

Now NY, you know that everyone knows that govt spending does not create jobs and such.

 

[uscitizen]

Smaller govt means smaller GDP, Jobs numbers, tax reciepts, etc.

 

[francoHFW]

CBO doesn't do costs savings until they happen. Funny how MassCare proves all the Pub fear mongering never happens...But thanks for the mindless opposition , dupes.

 

[NYcarbineer]

GDP growth will be slow because government is shrinking and government is 40% of GDP.

And Government should not be 40% of GDP

Well then why do people like you try to blame Obama for slow growth when the slow growth can traced directly to the fact that the public sector of the economy has been in recession for almost 3 years?

The slow growth of the economy/GDP is happening because conservatives are getting their wish.

 

[editec]

These projections are pretty much worthless.

Predicting long range outcomes in highly complex systems is a fools' errand.

Even modest changes in any of the multitudes of assumptions that goes into the economic long range forecast can bring wildly different outcomes to the economy.

They're whistling in the dark, folks.

 

[Greenbeard]

CBO doesn't do costs savings until they happen.

True, which is why every year they release these things they have to keep revising downward their Medicare spending projections (they last revised them downward last August but had to revise downward those very downward revisions just this month).

CBO: Medicare, Medicaid Spending Growth Slowing by 15%

Healthcare spending on Medicare and Medicaid has grown slower than many have predicted, and the most recent report from the Congressional Budget Office (pdf) shows federal spending for the two programs was 5 percent lower than it estimated in March 2010.

The CBO consequently lowered seven-year spending projections for Medicare and Medicaid in 2020 by $200 billion — $126 billion for Medicare and $78 billion for Medicaid, which is roughly a 15 percent decrease for each program. The CBO reduced its 10-year projection of outlays for Medicare by $137 billion, citing the third straight year of below-average growth.

Federal spending for Medicare Part A and Part B has risen by an average of 2.9 percent per year since 2009 — far less than the 8.4 percent growth rate from 2002 to 2009 and far less than what the CBO has projected for the past several years.