GAO warns balanced budget in 2040 could require Double Fed Taxes...LINK

[Blackhatjack]

www.rawstory.com

"The head of the GAO also warned that if no action is taken now to control government spending, severe tax hikes could be necessary. He stated that, "balancing the budget in 2040 could require actions as large as cutting total federal spending by 60 percent or raising federal taxes to 2 times today’s level."

[Straight Shooter]

1. No problem. We'll make plenty of money when we own and control the oil in the Middle East.

:sarcasm:

[peacetalksforall]

2. Isn't there a claim out there that the CIA is counterfeiting money?

Not to worry. This is the 'under the table' administration.

And they have their goal - convert the U.S. to a third world country so that corporations don't have to travel so far to establish businesses outside U.S. to avoid U.S. law - and so they don't have to travel so far to manage their interim workers. Then, having your money on an island in this era of rising seas - that's a lot to worry about.

So... the GAO will continue to track a downward deficit - because that is the plan.

[Warpy]

3. Yes, and they'll no longer be able to rob Social Security

to fudge the books by then, the real crisis the system, showing us what a total disaster those tax breaks to plutocrats and corporations have really been.

They can give up the idea of doubling John Q Citizen's tax load, too, unless they want to collapse the consumer economy (again) and leave themselves with NO tax revenue to collect.

The only option they will have is to go after the rich and corporate and make them repay every cent they've stolen through Reaganomics.