Near-term deficits to shrink, but debt to deepen: CBO

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MikeBarnett wrote:

This is commonly referred to as a “no-brainer.” The US will have more deficits, so the National Debt will rise. In addition, the cuts will cause cause more unemployment for more unemployment compensation. Tax hikes will cause less spending among the employed so more people will lose jobs and cause more unemployment compensation. These actions will cause bigger deficits and a bigger National Debt. With these problems, I don’t see how the US economy will recover in 2014, so the deficits will be much worse, and the National Debt will grow faster to become an increasing percentage of US GDP.

Feb 05, 2013 6:17pm EST  --  Report as abuse
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