As long-term budget simulations by GAO, the Congressional Budget Office (CBO), and others show, over the long term we face a large and growing structural deficit due primarily to known demographic trends and rising health care costs.Now of course none of this is unexpected. The demographic and health care trends were predicted over a decade ago. So what does KOS (rhymes with hoss) have to say about this? He changes the subject.
This wasn't the case last time we had a Democratic president. We had a nation on sound fiscal footing, running hundreds of billions of dollars in surpluses, paying down debt. Bush has given us trillions in debt, deficits as far as the eye can see, costly tax cuts, an expensive elective war, and a domestic agenda that promises nothing more than additional red ink.Now I will admit Bush is a big spender. But he has had a few problems along the way like 9/11. And really our debt burden as a % of GDP is lower than France, Germany, or Canada! But the deal is this report isn't discussing current problems. It is discussing the long term trends. Mainly caused by the aging and retirement of the boomers (who? moi?). Now what I want to know is how did Bush significantly change the demographics of the nation when he got into office? Man that guy is more powerful than I ever imagined. At least in KOS's mind.
Well KOS has struck another blow for the Absence of Reality Community. Some days I really wonder what these people are thinking. Other days I'd rather not.