Moral Outrage
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Posts Tagged ‘Congressional Budget Office

More financial woes in stock markets and federal debt

August 8, 2011

U.S. stocks plunged, European markets closed sharply down, and Asia exchanges lost ground across the board Monday, as investors responded to the unprecedented downgrade of U.S. debt on Friday, and concerns around the ongoing eurozone crisis. John Chambers, managing director of Standard & Poor’s, says of S&P’s decision to lower the nation’s credit rating for […]

Geithner wants to raise taxes as Government spending cuts alone are “irresponsible”

June 22, 2011

The national debt is now $14.34 trillion. This year, according to the Congressional Budget Office, the federal government will run a deficit of $1.4 trillion. Over the next decade, according to the CBO, the budget proposed by President Barack Obama would run up deficits totaling $9.5 trillion. So 10 years down the road, the national […]