Thread: Gold Buying
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Old 31.07.2009, 23:23
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Re: Gold Buying

From Six Syllables to a Savage Truth

Quote:
According to the CBO, over the next 70 fiscal years, the federal government will NEVER have a surplus. Rather, the United States will continue to suffer massive, escalating, multi-hundred billion dollar losses ("deficits") each and every year for the next SEVEN DECADES, which is when the budget projection stops. Under both CBO budget scenarios (catastrophic and worse-than-catastrophic), losses in fiscal year 2080 will be the largest of the entire 70 year series, meaning that the budget crisis will continue well beyond 2080. In the best case, the 2080 loss will be 17.8% of Gross Domestic Product (GDP); in the worst case, it will be 42.8% of GDP. To put this in context, the 2009 federal budget loss is projected to be 11.9%, in this, the worst financial crisis in American history. So 2080 will be 50% to 300% worse than now. Who the CBO thinks will fund these trillions of dollars' worth of forever losses, it does not say. Apparently, America is headed back to the Stone Age, thanks to our profligate politicians and corrupt financial elite.
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