CBO Issues Dire Warning

by: Tom Horne

The non-partisan Congressional Budget Office has a tough job.  The CBO is tasked with scoring bills on diverse topics from Health Care to Climate Change while somehow maintaining impartiality.  Their reports are frequently highly technical and relegated to policy wonk reading. 

Last week they released a remarkably atypical report; it’s blunt and sobering right from the title, “Federal Debt and the Risk of a Fiscal Crisis“.  Within the report CBO details the future effects of policy under two scenarios: One where taxes rise and spending is limited, another where taxes and spending remain on their “widely expected” track (optimistically referred to as the alternative fiscal scenario).  

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Reposted fromNational Taxpayers Union