Ron Paul's Texas Straight Talk 6/11/12: The CBO Sees the Economic Cliff Ahead

The CBO report for fiscal year 2013 is discussed.

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The CBO Sees the Economic Cliff Ahead
Last week the Congressional Budget Office (CBO) issued its annual long-term budget outlook report, and the 2012 numbers are not promising. In fact, the CBO estimates that federal debt will rise to 70% of GDP by the end of the year-- the highest percentage since World War II. The report also paints a stark picture of entitlement spending, as retiring Baby Boomers will cause government spending on health care, Social Security, and Medicare to explode as a percentage of GDP in coming years.
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