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CBO

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Hello, Cliff!

It seems as if America’s fiscal situation is rolling quickly toward
the edge of a big scary cliff. The nonpartisan Congressional Budget
Office (CBO) warned earlier this week that the combined forces of
a weakening economy and high maintenance costs associated with
fighting two wars is causing the federal budget outlook to darken
significantly over the next few years.
The CBO [...]

Debt Warning

Federal Reserve Chairman Ben S. Bernanke warned members of the
Senate Budget Committee last week that a “fiscal crisis” is heading
straight for America if Congress does not take the actions necessary
to reduce the projected growth of federal spending on Social Security,
Medicaid and Medicare.
Mr. Bernanke, a former White House economic advisor to President
Bush, referenced Congressional Budget [...]

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