From Americans For Limited Government:
"CBO's Fuzzy Math
By Bill Wilson
On July 22, the Congressional Budget Office's (CBO) issued its latest long-term projections on the growth of the national debt. Astonishingly, as bad as the numbers issued by the CBO were, the debt crisis the nation faces is even worse than we are being told.
The CBO analysis does not take into account the full $14.344 trillion national debt, nor does it reflect the $430 billion in gross interest payments we are paying every year.
Instead it only considers the $9.7 trillion 'debt held by the public'. That was cited by the CBO. What was not was the $4.6 trillion of debt owed to the Medicare and Social Security trust funds. Interest is owed to those programs similarly is not included.
These are real liabilities that the American people are expected to honor, and do honor under CBO's analysis. But because they are not revealed until 2024 and 2036, when the trust funds are fully exhausted, even the dire scenarios that are presented to the American people are actually rosy.
Why would the CBO leave this out of their analysis? Ostensibly, economists would counter that it's just money owed to ourselves, and not a share of debt held publicly. That, those obligations might be repudiated. So they shouldn't be counted until they come due."
How much longer are we going to allow the government to lie, making false claims about the problems we have with the budget and future of our nation? Too many people believe that The CBO is a non-partisan group, when in reality they are doing the bidding of the President. Mr. Obama believes that we can spend our way into prosperity. He wants us to increase the debt limit along with many of the democrats and a few of the republicans. Let me ask you a question. If you were in trouble with your finances would it be wise to get another line of credit to extend your buying power? No that would not make any sense. Yet, we are being told that if we go beyond the debt limit we will go into default. Well, what do we think is going to happen if we continue to add to that debt? Will we ever be solvent again. The "buck" must stop here or our children and their children, and so on, will not have a prayer of a chance at opportunity of freedom.
Wake up America and let your congressmen and senators know that raising the debt ceiling is not an option. We must cut spending PERIOD!
