Where were these folks a few weeks ago? It is not as though HCR was the first of very poor financial moves by the administration, but it certainly should have precipitated a response or two such as this before it passed. From the head of the CBO:
“U.S. fiscal policy is unsustainable, and unsustainable to an extent that it can’t be solved through minor changes,” Congressional Budget Office (CBO) Director Douglas Elmendorf told reporters at a Christian Science Monitor breakfast.
Spending on Medicare, Medicaid and Social Security, plus defense programs and debt interest, will exceed the rest of the federal budget in 10 years if most of the 2001 and 2003 tax cuts are extended, as President Barack Obama has proposed, Elmendorf said.
“It’s a matter of arithmetic,” Elmendorf said of getting record deficits under control.
If it truly was/is arithmetic, why on God’s green earth did he not say so previously? I’m afraid the answer is as simple as it is discouraging–doing so a few weeks or months ago would have meant the the President and his friends in Congress would not have been able to push through all of the spending which was desired. Coming out with this statement now means that we’ll all have to sacrifice–and get taxed until we turn white (and no, that is not a racist statement).
Do I get any credit for stating repeatedly that leaving aside the poor legal basis for HCR it was only going to tend to bankrupt the country faster? I realize I’m not the head of the CBO, but I do balance my own budget (yes, using arithmetic).