U.S. Debt Headed Toward 200% of GDP Even After Fiscal Cliff Crap Sandwich

via Weaselzippers;

U.S. Debt Headed Toward 200% of GDP Even After Fiscal Cliff Deal

The crazy thing is, Obama couldn’t care less.

Via The Hill:

The nation’s long-term fiscal outlook hasn’t significantly improved following the recent agreement between Congress and the White House over tax and spending issues, according to a new analysis.
The “fiscal cliff” deal combined with the debt-limit agreement of August 2011 only slightly delays the United States reaching debt-to-gross domestic product levels that would damage the economy and risk another fiscal crisis, according to the a report from the Peter G. Peterson Foundation released on Tuesday.
The agreement “may have prevented the immediate threats that the fiscal cliff posed to our fragile economic recovery, but we haven’t remotely fixed the nation’s debt problem,” said Michael A. Peterson, president and COO of the Peterson Foundation.
“The primary goal of any sustainable fiscal policy is to stabilize the debt as a share of the economy and put it on a downward path, and yet our nation is still heading toward debt levels of 200 percent of GDP and beyond,” he said.
The report concludes that the recent round of deficit-reduction measures won’t make major improvements because it fails to address most of the major contributors to the debt and deficit, including rapidly rising healthcare costs.
The analysis suggests that lawmakers take action quickly to ensure that the nation is on a sustainable fiscal path.

Thank you Zip, The Hill, and Ms Needham.

And just exactly Which, . . .  Violence, Disability, Disease, and Death Peddling Entitlement's Funding needs to be cut off?

Obama's "Plan" Adds $8.6 Trillion To The Debt

The Weekly Standard has;

'Obama's "Plan" Adds $8.6 Trillion To The Debt'

8:41 AM, DEC 13, 2012 • BY DANIEL HALPER

The $400 billion in deficit reduction would be achieved by a $1.6 trillion tax hike, which Obama has proposed as part of the "fiscal cliff" deal.

With Obama's latest plan, debt in 2022 is expected to be $25.4 trillion; otherwise, in ten years, it is expected to be $25.8 trillion.

"With the adoption of the Budget Control Act (which immediately raised the debt ceiling $2.1 trillion in exchange for $2.1 trillion in spending cuts over 10 years), the United States is presently on course to add $9 trillion to the gross federal debt by 2022," write the Republicans on the Senate Budget Committee.  

"Though the President has said his budget plan would help 'pay down the debt' and represents a “balanced approach” to $4 trillion in deficit reduction, both his budget and his fiscal cliff proposal offered by Secretary Geithner achieve only $400 billion in 10-year savings—meaning that the United States will accumulate $8.6 trillion in new gross debt instead of $9 trillion. Rather than using higher taxes to reduce the deficit, the President’s $1.6 trillion tax hike funds a $1.2 trillion spending increase consisting of: new stimulus measures (at a cost of $50 billion), an unpaid for “doc fix” (almost $400 billion), a continuation of the payroll holiday ($90 billion) and extended unemployment insurance ($26 billion), and, most significantly, the complete repeal of half of the BCA spending cuts. All these increases are only partially offset by a $600 billion spending cut, resulting in a net $1.2 trillion spending increase. His tax increase thus nets only $400 billion in reduced deficits, allowing the debt of the United States to climb past $25 trillion over the next decade."

Thank You Weekly Standard and Mr Halper