Confounded Interest ^ | 05/14/2013 | Anthony B. Sanders
The Congressional Budget Office (CBO) has released its budget forecast from
2013 to 2023. Their forecast? Deficits as far as they eye can see … and then
some.
Here is the CBO’s budget forecast from 2008. The budget forecast was actually
rosy!
Here is a comparison of the two forecasts:
Why the change from a rosy forecast to a gloomy one? Healthcare and interest
costs. Both are expected to rise until 2013 (and beyond).
A recent study by Congress revealed that Obamacare (aka, the Affordable
Healthcare Act) will increase healthcare insurance premiums by 100% up to 400%.
“Affordable” health care?
With growing government spending, interest costs will increase even if the
rate remains the same. We shall see if interest rates rise when The Fed slows
down its asset purchases.
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