Nation's Long-Term Fiscal Outlook Remains Unsustainable,' GAO says


	Nation's Long-Term Fiscal Outlook Remains Unsustainable,' GAO says

jatfla

10-16-2009 5:33 PM

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jatfla says:

"Accountability Office"? Where's the accountability to be found in Washington? Is there no people in our Government who will put their foot down and say "STOP!" These people are killing us as a Nation and I'm not talking figuratively.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/68346c7d-03aa-4d98-b17a-026a91eaac24/E5D7CAE0-AEA6-47E3-A682-87DB7112990F/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.cnsnews.com/news/article/55629" href="http://www.cnsnews.com/news/article/55629" style="font-size: 11px;">www.cnsnews.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.cnsnews.com/news/article/55629"><SPAN id="ctl00_ContentArea_lblTitle">Nation's 'Long-Term Fiscal Outlook Remains Unsustainable,' GAO Says</SPAN></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.cnsnews.com/news/article/55629"> Weaknesses in the economy and financial markets--and the government's response to them--have helped boost federal budget deficits, which reached a record level in fiscal year 2009, the General Accountability Office reported on Thursday.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.cnsnews.com/news/article/55629"><DIV>
The situation probably won't improve any time soon: "While a lot of attention has been given to the recent fiscal deterioration, the federal government faces even larger fiscal challenges that will persist long after the return of financial stability and economic growth," the report says.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.cnsnews.com/news/article/55629"><DIV>
Under one GAO scenario that looks ten years ahead, debt held by the public as a percent of Gross Domestic Product is projected to exceed the historical high reached in the aftermath of World War II and grow at a steady rate after that.</DIV></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/E5D7CAE0-AEA6-47E3-A682-87DB7112990F/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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