Media Ignores GAO Report: Deficit Unsustainable
Because my shift ends before Bill O'Reilly's show, and after my shift I tend to get as far away from the news as possible, I only just learned this morning that O'Reilly's been one of the few voices highlighting a January 17 report from the non-partisan Government Accounting Office.
The unsettling report warns in no uncertain terms that "[d]espite limits on discretionary spending that would bring discretionary spending to levels not seen in recent history, our simulations show total federal spending continuing to exceed revenues and feeding an unsustainable growth in debt."
In light of Obama's speech yesterday, which completely ignored the debt and our faltering economy, this GAO report is even more worrisome.
It's obvious Obama has no intention to make spending reductions a second-term priority. In fact, one could reasonably argue Obama's speech was the announcing of his intent to further grow the size and influence of government.
Where, though, is the media? Not only is the media covering up the GAO warning, but as of now the media's covering it up as Obama recklessly pursues a path that flies in the face of the report's most urgent warnings:
The Government Accountability Office (GAO) reported that federal spending will drive the national debt to “unsustainable” levels in the coming decades, fueled by ever-rising health care costs and federal entitlement spending.
“The growing fiscal imbalance is driven on the spending side by rising health care costs and the aging of the population,” the GAO said in its report, The Federal Government’s Long-Term Fiscal Outlook, Spring 2012 Update.
Furthermore, "[d]espite limits on discretionary spending that would bring discretionary spending to levels not seen in recent history, our simulations show total federal spending continuing to exceed revenues and feeding an unsustainable growth in debt," states the report. "The policy actions required to close the fiscal gap are significant, and changing the long-term outlook will likely require difficult decisions about both federal spending and revenue."
This collusion between Obama and a media's that's supposed to hold him accountable is not going to end well.
In tune and in unison, both are whistling past the graveyard.
It's all okay, though, because Obama said "gay" in his speech yesterday.
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