US Debt Headed Toward 200 Percent Of GDP Even After ‘Fiscal Cliff’ Deal

So tell me, dead elephant party what exactly was accomplished with the vaunted fiscal cliff deal. One more time for the slow among us? John, you dead elephant, I am talking to you…

The Hill writes …

The nation’s long-term fiscal outlook hasn’t significantly improved following the recent agreement between Congress and the White House over tax and spending issues, according to a new analysis.

The “fiscal cliff” deal, combined with the debt-limit agreement of August 2011, only slightly delays the United States reaching debt-to-gross domestic product levels that would damage the economy and risk another fiscal crisis, according to a report from the Peter G. Peterson Foundation released on Tuesday.

The agreement “may have prevented the immediate threats that the fiscal cliff posed to our fragile economic recovery, but we haven’t remotely fixed the nation’s debt problem,” said Michael A. Peterson, president and COO of the Peterson Foundation.

Who is this news to? Doesn’t anybody know math anymore? Math is hard for ignorant, not so much so for educated people.

Didn’t the GAO say as much a few days ago??? Something about spending being unsustainable.

Hey looks like the Tea Party had it right all along.

 

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One Response to US Debt Headed Toward 200 Percent Of GDP Even After ‘Fiscal Cliff’ Deal

  1. [...] US Debt Headed Toward 200 Percent Of GDP Even After ‘Fiscal Cliff’ Deal [...]

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