CBO Projects More Debt, Less Growth Over Next Decade

By Ali Meyer

Despite increasing federal revenues, debt held by the public is projected to increase 71 percent over the next decade, according to the Congressional Budget Office’s annual economic outlookOver the next 10 years, the federal government is projected to take in roughly $1.6 trillion in individual income taxes, payroll taxes, and corporate income taxes. However, the federal government is projected to spend $2.4 trillion over the same period.  Most of the projected growth in spending will go to interest on the debt and mandatory spending that includes Social Security, Medicare, Medicaid, and subsidies for health insurance through Obamacare. Social Security and Medicare are responsible for almost half of the projected increase in outlays from 2016 to 2026....

My Take - Social Security is going to be the scape goat in this story, but the SSI fund has been robbed by the federal govenment for decades to the tune of trillions of dollars, which if it had been left alone there would have been no crisis.  Trillions of dollars were wasted on  stupid economically idiotic leftist schemes that have proven disastrous for the nation.