President Obama's fiscal 2011 budget, the Congressional Budget Office (CBO) estimates a deficit that starts at 10.3% of GDP in 2010. It is projected to narrow as the economy recovers but will still be 5.6% in 2020. As a result the net national debt (debt held by the public) will more than double to 90% by 2020 from 40% in 2008.
Contents contributed and discussions participated by Aaron Palm
Bureau of Labor Statistics Data - 7 views
David Ranson: The Revenue Limits of Tax and Spend - WSJ.com - 0 views
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They do not include deficit spending resulting from the new health-insurance legislation. The revenue numbers rely on increased tax rates beginning next year resulting from the scheduled expiration of the Bush tax cuts. And, as usual, they ignore the unfunded liabilities of social insurance programs,
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"Hauser's Law," as I call this formula, reveals a kind of capacity ceiling for federal tax receipts at about 19% of GDP.
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We can never collect more than 20% tax rate
Draw Anywhere - easy online diagramming, flow chart - 5 views
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draw anywhere online diagrams
Businesses scared off by California go global - Sacramento Business, Housing Market New... - 0 views
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Entrepreuneur moving business out of CA to China over gov regulation
bomomo - 1 views
BREAKING: Comprehensive List of Net Tax Hikes in Health Reconciliation Bill - 0 views
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All of the tax hikes as a result of the health care reform of 2010
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Aaron Palm