Wednesday, June 17, 2015

Sure, let's expand Social Security

Hill: "CBO: Debt to hit 101 percent of GDP by 2039."  "The harmful effects that such large debt would have on the economy would worsen the budget outlook,” the report said. “At some point, investors would begin to doubt the government’s willingness or ability to meet its debt obligations, requiring it to pay much higher interest costs in order to continue borrowing money."

1 comment:

Anonymous said...

At some point, it enters the phase of self-reinforcing downward spiral. Like with Greece - the people demand more government spending in spite of economic depression, while increasing their personal dedication to being tax cheats.