Saturday, April 2, 2011

CBO Budget Model Predicts Crash Of US Economy in 2037!

"The Congressional Budget Office has this economic model where they measure the economy going forward, and they are telling us that the entire economy crashes in the year 2037 because their computer simulation can't conceive of any way in which the U.S. economy can continue, By the time my kids are my age, just those three programs -- Social Security, Medicaid and Medicare --will consume all federal revenues. There will be no room for anything else in the federal budget," Congressman Paul Ryan said. President Obama has said we need to tackle the budget problems, but still has not offered any proposals (still the President incapable of being a leader on anything!). I assume he is waiting for the republicans to make the first risky move like the follower not leader he appears to be. Budget Chairman Paul Ryan R-Wisconsin will unveil the House republican budget plan next week. It is said to contain significant changes to Medicare and Medicaid. The plan does not propose many changes to Social Security. The plan is said to cut trillions from medicaid over the next ten years. Roll back discretionary spending to 2006 levels and change Medicare for those currently 54 and under. The new Medicare proposal would do away with medicare in the future for those currently 54 and under. They would instead receive yearly lump sum payments from the government to purchase their own private insurance.

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