Congressional Budget Office: Deficit problem solved for the next 10 years

[Kasz216]

Miguel_Zorro said:

Ckmlb1 said:

Miguel_Zorro said:

Is this a joke?  They're still projecting that deficits from this year through the next 10 years will be $7 trillion!  That's with rosy assumptions.

This is insane.  America is taking on an obscene amount of debt that will permanently cripple the nation.

Do you know the difference between debt and budget deficit? Edit: nevermind you added up the deficits over 10 years

The article is about the yearly budget deficit shrinking a lot faster than expected.

The only reason I used a 10 year timeline is because that's the timeline that they used... and I understand what the article is about, thank you.

Not really worth discussing anymore.(or ever)  The economic report that was released the day after this report came out already screwed up the projections for this.

That's generally the problem with CBO projections.  They measure the current status quo.  Even though in washington you can be sure the current status quo isn't going to come close to being held... since stuff that expires pretty much never does expire.  Like the Federal Helium Program.  Which everbody wants to get rid of... yet nobody ever does.  (Which exists to make sure we dont' lose the arms race vs europe in combat zeplins.)  Note, i'm actually for the program, it makes a profit... but 90% of congressmen talk about every year how it's an outdated silly program that needs to die.  Republican and Democrat... and they keep voting to extend it.   Not even repeal it mind you... because they don't have too, because it has a limited timeframe.  They just keep extending it even though nobody likes it.

Now measuring how one piece of policy is going to effect the budget... that means something.  Because it's just a straight + or - figure.  It can still be off, but it doesn't operate on a "Nothing will be done, even the stuff that's always done" assumption.