Spencer Uresk's Technology Blog

Measures of the US Government's Fiscal Policy Under Current Law

I just got done reading the CBO report about our fiscal policy and our future financial position. I know you are busy, so let me give you the short, two-word summary first:

Oh shit.

Going into more detail.. We owe a ton of money, and will owe a ton more in the future. Plus, there's a chance we'll be growing slower. Even if we grow at a 90's-like pace, we'll still be behind.

The only way to solve it? Either Europe-like taxes, cutting benefits, or both. No politician I know of has the balls to do any of these. Are we going to have to file for Chapter 11?

Sooner or later, we need to realize we can't grow ourselves out of any bad financial position we run into.

More analysis of this report is coming, but you can read it here.

posted by Spencer @ 8:02 PM