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Saturday, July 16, 2016

CBO: ‘The Projected Amounts of Debt Would…Make a Fiscal Crisis More Likely’

(CNSNews.com) - In its Long-Term Budget Outlook published this week, the Congressional Budget Office said that the additional debt it projects the federal government will accumulate in the coming years if it continues on its current path would make a fiscal crisis in the United States more likely.
“In particular,” the CBO said in its report, “the projected amounts of debt would: Reduce national saving and income in the long term; increase the government’s interest costs, putting more pressure on the rest of the budget; limit lawmakers’ ability to respond to unforeseen events; and make a fiscal crisis more likely.” READ MORE