En Garde In The Bunker

The Laffer curve to USA insolvency. The proclaimed “Laffer Curve” continues to “laugh” in the face of the continuing insults foisted on We The People by Community Organizer Wanna-be Government Leaders who have shown themselves to be anything but. From the Laffer-Curve Rogue Fraud “president” all the way down, filtering through his corrupt coterie of criminal co-respondents, the ultimate dark fate of the Constitutional Republic of the United States has almost been set in stone.

In the latest CBO prediction, if We The People don’t get our elected officials to do what we sent them up to Washington D.C. to do, then come 2025 (just 10 years from now) the Constitutional Republic of the United States will have a debt-load so great and egregious that, in the words of the CBO Director, “will be unsustainable.”

You cannot “grow” yourself out of 18 trillion of debt; no organization on the planet can do that. There are only two options – default on the debt or default through inflation (we have chosen the latter with QE1, 2, and 3 so far and it will continue until we have hyper-inflation). Anyone know of other options? The genius boy-wonder Community Organizer on the golf course, maybe?

I have a thought – How come we run “gubmint” like most of us must run our own household budgets? Cut government by 50% like Coolidge did. Give power back to the States per the Constitution. Get rid of all the “alphabet soup” agencies/bureaucracies. Give the Feds only what the Constitution allows them power to do. And impeach anyone of the 535 politicos in Congress (plus those in the WH and Judiciary) who do not follow the law of the Constitution. Pretty simple when you think about it. Isn’t it?

As reported by Breitbart…

CBO Director Douglas Elmdorf testified that debt will exceed 100% of GDP within 25 years and continue to rise, a “trend that could not be sustained” and would eventually heighten “the risk of a fiscal crisis” before the House Budget Committee on Tuesday.

“Although the deficits in our baseline projections remain roughly stable as a percentage of GDP through 2018, as I noted, they rise after that. The deficit in 2025 is projected to be $1.1 trillion, or 4% of GDP, and cumulative deficits over the 2016 to 2025 period are projected to total $7.6 trillion. We expect that federal debt held by the public will amount to 74% of GDP at the end of this fiscal year, more than twice what it was at the end of 2007, and higher than in any year since 1950. By 2025, in our baseline projections, federal debt rises to nearly 79% of GDP. When CBO last issued long-term budget projections in the summer, we projected that, under current law, debt would exceed 100 percent of GDP 25 years from now, and would continue on an upward trajectory thereafter. That trend that could not be sustained.  Such large and growing federal debt would have serious negative consequences, including increasing federal spending for interest payments, restraining economic growth in the long term, giving policymakers less flexibility to respond to unexpected challenges, and eventually heightening the risk of a fiscal crisis” he stated.

According to a copy of his prepared remarks released by the CBO, the revised economic projections “do not materially change” predictions that debt will exceed 100% of GDP in 25 years and “CBO’s current projection of debt as a percentage of GDP in 2024 is quite close to that used as the starting point for the projections in The 2014 Long-Term Budget Outlook [where the CBO also predicted that debt will be 100% of GDP in 25 years.]”