This one is really crunchy. Lots of numbers, lots of data, but also some nice graphs. The Center on Budget and Policy Priorities lays out an assessment of Federal financial data, much of it from the Congressional Budget Office. It was written before the election so its spends more time than necessary showing that nearly all of the current mess result from issues preceding Obama’s first term. Once you get past that it lays out the ongoing components of debt related madness.
Interesting things I learned:
- By 2013 the cost of the recovery measures adds very little to the deficit, by 2014 it will be almost nothing.
- It’s the Bush tax cuts that contribute the largest portion.
- It’s not the services the government provides that are driving the deficit.
The deficit is where it is now because of the Bush tax cuts, the slow economy, and the wars. Cutting government services without addressing the largest contributors to the deficit isn’t going to help us. Of course, making government services more efficient never hurts. The biggest problem the CPPB sees in the future is the cost of healthcare. Not Government spending on healthcare, the cost of healthcare in general. Lets turn the national discourse to making healthcare more efficient, more effective, and less costly. Then we’ll see the deficit go down.