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News Link • Government Debt & Financing

CBO: Hard choices ahead on debt

• Jeanne Sahadi, CNNMoney
The Congressional Budget Office on Tuesday painted a stark picture of the country's fiscal future, which will be determined in part by tough choices lawmakers face in the coming months on the federal budget.

The CBO, the nonpartisan official beancounter in Washington, painted two scenarios for Congress.

The first assumes laws currently in place rule the day. That means lawmakers do nothing to lessen the effects of the so-called fiscal cliff and allow $7 trillion in tax hikes and spending cuts start to take effect in January.


1 Comments in Response to

Comment by Ed Price
Entered on:

There really isn't any debt. It's all a farce, designed to hide what is really going on, so that banks and Government can keep on ripping YOU off. Here are a couple of simple websites that you can look at to see the basics of what is really going on. It works the same for Government as it does in the private sector. It's all about ripping the people off.

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