8/3/2019 Latest Congressional Budget Outlook for 2012-2022 Released, Says Real Unemployment Rate is 10

http://slidepdf.com/reader/full/latest-congressional-budget-outlook-for-2012-2022-released-says-real-unemployment 1/16

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CBO REPORT - OM G!

Posted by : Bruce Krasting

Post date: 01/31/2012 - 21:47

The CBO report is a stinker.

Even in a Wor ld of Deleveraging...There Are Still Fortunes to Be Made

Posted by: Phoenix Capital...

Post date: 01/31/2012 - 15:46

While the “across the board” perspective

looks quite bleak, there are going to be

truly outstanding opportunities for wealth

creation available to those entrepreneurs

and businesspeople who...

MF Global Customer Funds Were Not"Vaporized" - Stanley Haar Takes WSJ to

Task

Posted by: EB

Post date: 01/31/2012 - 14:42

Your article gives the appearance of having

been ghost written by Andrew Levander

and/or the JP Morgan legal department.

Home

Latest Congressional Budget Outlook For2012-2022 Released, Says Real Unemployment

Rate Is 10%

Submitted by Tyler Durden on 01/31/2012 10:30 -0500

What do the NAR, Consumer Confidence and CBO forecasts have in

common? If you said, "they are all completely worthless" you are

absolutely correct. Alas, the market needs to "trade" off numbers,

which is why the just released CBO numbers apparently are

important... And the fact that the CBO predicted negative $2.5

trillion in net debt by 2011 back in 2011 is largely ignored.

Anyway, here are some of the highlights.

l 2012 Deficit: $1.1 trillion; 2013 Deficit: $0.6 - yes, we are

cackling like mad too...

l Unemployment to remain above 8% in 2012 and 2013; will be

around 7% by end of 2015; to drop to 5.25% by end of 2022.

¡ This forecast is utterly idiotic and is completely

unattainable unless the US workforce drops to all time

lows and the US economy generates 300,000 jobs a

month for 10 years

l Needless to say, CBO assumes the best of all worlds in this

meaningless forecast

l But here is the kicker: "Had that portion of the decline in

the labor force participation rate since 2007 that is

attributable to neither the aging of the baby boomers

nor the downturn in the business cycle (on the basis of

the experience in previous downturns) not occurred, the

unemployment rate in the fourth quarter of 2011 would

have been about 1¼ percentage points higher than the

actual rate of 8.7 percent" t rans lat ion: CBO just

admi t ted tha t the BLS num bers a re bogus and rea l

u n e m p l o y m e n t i s 1 0 % . Th a n k y o u

BLS Budget Deficit Bureau of Labor Statistics Congressional Budget

Off ice Consumer Confidence fixed Gross Domestic Product Medicare

None Real Unemployment Rate Reality Unemployment

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8/3/2019 Latest Congressional Budget Outlook for 2012-2022 Released, Says Real Unemployment Rate is 10

http://slidepdf.com/reader/full/latest-congressional-budget-outlook-for-2012-2022-released-says-real-unemployment 2/16

Here is the CBO's alternative forecast which is a little closer to

reality:

Some view on SSN and Medicare:

And some thoughts from the excel goal seek geniuses in DC on the

collapse of the US welfare state:

CBO has developed budget projections under an

“alternative fiscal scenario,” assuming—instead of

current law—that certain tax provisions that have

recently expired or are set to expire (including most of

the provisions in the 2010 tax act but excluding the

Social Security payroll tax reduction) are instead

extended, that the AMT is indexed for inflation after

2011 (starting from the 2011 exemption amount), that

Medicare’ s payment rates for physicians’ services are

held constant, and that the automatic enforcement

procedures of the Budget Control Act do not takeeffect. Under th i s scenar io , def i c i t s f rom 2013

th rou gh 2022 w ou ld average 5 .4 percen t o f GDP,

compared w i th th e 1 .5 percen t i n the base l ine .

l At $1.6 trillion in 2012, federal outlays for Social

Security, Medicare, Medicaid, and other health

care programs will make up more than 70

percent of mandatory spending (or 10.4 percent

of GDP). Spend ing fo r t hose p rograms w i l l r i se

by $1 .5 t r i l l ion f rom 2012 t o 2022 —

account ing fo r near l y a l l o f the g row th in m a n d a t o ry s p e n d i n g o v e r t h a t p e r i o d . By

2022, spending for those programs will represent

more than 80 percent of mandatory spending

and 12.8 percent of GDP.

l CBO estimates that, under current law, outlays

for Social Security will total $770 billion in 2012,

or 5.0 percent of GDP. Over the next decade,

spending for Social Security benefits will climb

steadily (by an average of about 6 percent per

year) as the nation’ s elderly population grows

and as average benefits rise. By 2022, CBO

estimates, Social Security outlays will total $1.3

trillion, or about 5.5 percent of GDP.

l At $856 billion, gross outlays for Medicare,

Medicaid, and other mandatory federal programsrelated to health care accounted for just under

40 percent of mandatory spending (not including

offsetting receipts) in 2011.6 CBO estimates that

outlays for those programs will dip to$847 billion

in 2012, or 5.5 percent of GDP, reflecting a

decline in Medicaid spending. In CBO’ s baseline

projections, spending for health programs more

than doubles between 2012 and 2022, rising by

an average of nearly 8 percent per year and

reaching $1.8 trillion in 2022. That spending is

expected to represent 7.3 percent of GDP in

2022, an increase of nearly 2 percentage points

from its share this year.

Because of the aging of the population and rising costs

for health care, the set of budget policies that were in

effect in the past cannot be maintained in the future.

In CBO’ s projections for 2022 under the alternative

fiscal scenario, gross outlays for all federal programs

apart from Social Security, the major health care

programs, and net interest are projected to be 7.8

percent of GDP, lower than in any year during the past

40 years and well below the 11.4 percent of GDP that

such outlays have averaged over that period. Yet t h e

budget de f i c i t i n 2022 und er tha t scenar io i s p ro jec ted t o be 6 .1 per cen t o f GDP. There fo re , to

keep de f i c i t s and deb t f rom causing subs tan t ia l

harm t o the econom y, po l icymakers w i l l need to

a l l ow federa l revenues to inc rease to a much

h igher per cen tage o f GDP than the average over

the pas t 40 y ears , mak e ma jo r changes to Soc ia l

Secur i t y and federa l hea l th care p rogram s, o r

pursue some combina t ion o f the tw o approaches.

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01-31 10:46: Latest Congressional Budget Outlook

For 2012-2022 Released, Says Real Unemployment

Rate Is 10%

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8/3/2019 Latest Congressional Budget Outlook for 2012-2022 Released, Says Real Unemployment Rate is 10

http://slidepdf.com/reader/full/latest-congressional-budget-outlook-for-2012-2022-released-says-real-unemployment 3/16

So, if everything that is set to happen, happens, there will be

"substantial harm" to the economy, and the CBO just happily

assumes all these things will be fixed just in time? Brilliant.

But probably the most imporant part is the CBO's discussion

on the labor force participation, and the general

unemployment rate:

Don't waste time reading this: none of what is predicted will

actually happen. But at 165 pages it makes a good paperweight.

Average:

Your rating: None Average: 4.3 (9 votes)

Everybodys All ...

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Ryan Plan –“Kick it down the road” CBO REPORT - OMG!

CBO Cuts Forecast Of Cumulative 2012-2021 Deficit By 50%,

Admits It Is Probably Dead Wrong

CBO's Revised Budget Sees 2011 Deficit Rising By $500 Billion To

$1.5 Trillion; $4 Trillion In Deficit Through 2013 Guarantees QE3+

Guest Post: By 2020 Interest Payments Will Be Greater Than

The Budget Deficit

Similar Articles You Might Enjoy:

Tue, 01/31/2012 - 10:33 | 2112749

Thanks for wasting my time and money.

Tue, 01/31/2012 - 10:36 | 2112759

"Tomorrow, tomorrow, I luv ya, tomorrow, your only

a day away!"

http://www.youtube.com/watch?v=Yop62wQH498

Participation in the Labor Force. The unemployment

rate would be even higher than it is now had

participation in the labor force not declined as much as

it has over the past few years. The rate of

participation in the labor force fell from 66 percent in

2007 to an average of 64 percent in the second half of

2011, an unusually large decline over so short a time.

About a t h i rd o f t ha t dec l ine re f lects fac to rs o ther

than th e down tur n , such as the ag ing o f the baby-

b o o m g e n e ra t i o n . But even with those factors

removed, the estimated decline in that rate during the

past four years is larger than has been typical of past

downturns, even after accounting for the greater

severity of this downturn. H a d t h a t p o r t i o n o f t h e

dec line in t he labor fo rce par t i c ipa t ion ra te s ince

2 0 0 7 t h a t i s a t t r i b u t a b le t o n e i t h e r t h e a g i n g o f t h e

b a b y b o o m e rs n o r t h e d o w n t u rn i n t h e b u s in e ss

cyc le (on the bas is o f the exper ience in p rev ious

d o w n t u rn s ) n o t o c c u r re d, t h e u n e m p l o y m e n t r a t e

in the four th quar t e r o f 2011 w ou ld have been

about 1¼ percentage points higher than the actual

ra te o f 8 .7 percen t . By CBO’ s estimates, the rate of

labor force participation will fall to slightly above 63

percent by 2017. The dampening effects of the

increase in tax rates in 2013 scheduled under current

law and additional retirements by baby boomers are

projected to more than offset the strengthening

effects of growing demand for labor as the economy

recovers further.

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8/3/2019 Latest Congressional Budget Outlook for 2012-2022 Released, Says Real Unemployment Rate is 10

http://slidepdf.com/reader/full/latest-congressional-budget-outlook-for-2012-2022-released-says-real-unemployment 4/16

MillionDollarBonus_

Mr Lennon

Hendrix

MillionDollarBonus_

Mr

Lennon Hendrix

trav7777

Roger O. Thornhill

Tue, 01/31/2012 - 10:46 | 2112798

I trust that informed US citizens are analysing this

data and making their own judgements right now,

so that they can make informed and intelligent voting

decisions in the coming elections. It is up to ALL

Americans to make sure they monitor government

spending and evaluate the statistical effectiveness of

each spending program (discounted by opportunity

cost) so that we can make objective voting decisions.

This is how democracy should work.

Tue, 01/31/2012 - 10:47 | 2112810

Yes. When the PTB need fiscal spending

up, they use data points to justify it (10%

unemployment). When they are politicking

and campaigning, they use data points to justify it

(8%). I will likely vote for no one, maybe I will write

in Ron Paul. At least that way DIEBOLD won't rape

my vote.

Tue, 01/31/2012 - 10:53 | 2112831

Government decisions are trustworthy

because they are monitored by a well

informed public. The public are informed

enough to monitor and evaluate all government

decisions, however they are they are simply not

informed enough to make the decisions

themselves. It’ s just common sense.

Tue, 01/31/2012 - 11:01 | 2112877

Robot. MillionDollarBonus is a

robot. Terminate. Terminate....

Tue, 01/31/2012 - 11:28 | 2112987

The CBO is just doing a

projection assuming that this

downturn is cyclical and there is

another economic BOOM coming like has

happened in the past 30 or 40 years.

Tue, 01/31/2012 - 12:12 | 2113192

The madness continues. This

cycle we are in is the one on

the washer that says "full

spin." The one at the end of the mini

cycles that is finally necessary to spin

the debt out of the system. We'll all

be extremely dizzy at the end of that

ride.

Also, what is astonishing is that The

Romney and Newt puppets are being

floated as an alternative to Obama.

Sadly the media maintains this joke

and the dumber percentage of the

voters continues to fall for the

nonsense. They don't realize they are

being played for fools yet again. Soon

to be poor fools.

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8/3/2019 Latest Congressional Budget Outlook for 2012-2022 Released, Says Real Unemployment Rate is 10

http://slidepdf.com/reader/full/latest-congressional-budget-outlook-for-2012-2022-released-says-real-unemployment 5/16

8/3/2019 Latest Congressional Budget Outlook for 2012-2022 Released, Says Real Unemployment Rate is 10

http://slidepdf.com/reader/full/latest-congressional-budget-outlook-for-2012-2022-released-says-real-unemployment 6/16

LawsofPhysics

MillionDollarBonus_

economics1996

blindfaith

economics1996

(or she) has elevated sarcasm to

high art, with the (usually) perfect

tone to mimic the legion of sycophant

politicians; asshat blowhard economic

media talking (and writing) heads; and

ivory-towered academic hacks that write

grade and high school Civics textbooks.

ZH *needs* MDB to remind us of why ZH

is an important part of our real news day.

I personally think MDB is a Tyler, he's too

fucking good not to be.

NFP

Tue, 01/31/2012 - 11:07 | 2112891

You know what else is common

sense? Rewarding savers and ending

capital mis-allocation and mal-

investment by allowing deflation and

companies to fail. Let the market pick the

winners and loser, n o t t h e g o v e rn m e n t .

Tue, 01/31/2012 - 11:11 | 2112915

Mis-allocation is a subjective

term. You are simply assuming that

all preferences are equally valuable

in the market place. However I would

argue that Nobel Prize winning economists

have more valuable preferences

than redneck Nascar fans. Yes, you heard

me - I want resources to be allocated by

PROFESSIONALS ONLY.

Tue, 01/31/2012 - 11:30 | 2112999

The real unemployment rate,

compared to the 1990s, is

11.2% by my calculations and

11.4% by Tyler's calculations.

http://usa-

wethepeople.com/2012/01/real-%E2%

80%9Cjuly-1999%E2%80%9D-

unemployment-rate-11-2/

Tue, 01/31/2012 - 12:26 | 2113244

your not counting the 900 and

something dead folks who voted in

the South Carolina Primary in the

caculation are you?

Tyler...where is the scarcasm

button?

Tue, 01/31/2012 - 11:33 | 2113009

MDB, Central planning always

fails. It can never suceed

because markets are way more

complex than any one person or

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8/3/2019 Latest Congressional Budget Outlook for 2012-2022 Released, Says Real Unemployment Rate is 10

http://slidepdf.com/reader/full/latest-congressional-budget-outlook-for-2012-2022-released-says-real-unemployment 7/16

DaveyJones

ParkAveFlasher

JW n FL

Elwood

P Suggins

JOYFUL

StychoKiller

government.

Tue, 01/31/2012 - 11:56 | 2113132

shouldn't ten percent of

congress go upaid to gain

insight on the problem?

Tue, 01/31/2012 - 11:06 | 2112893

LOL thanks for that.

Tue, 01/31/2012 - 11:54 | 2113121

You are brilliant! and that is why so few get

you.

Please Never Stop and Thank You!

God Bless You and Yours!

signed, Christian Constitutionalist

Tue, 01/31/2012 - 12:13 | 2113195

CBO - Congressional Bullshit Office

Tue, 01/31/2012 - 13:11 | 2113404

I believe you are struggling with this

one M$B. As I sense you are on theedge of an epiphany, let me help you

out with the wording on this one....staying,

of course, as close as possible to your

original intent!

Government monitors the public because

they are simply not trustworthy, and

evaluates their decisions by being well

informed of this monitored public's sense of

just how badly it's decisions are perceived to

be denuding them of their basic dignities and

financial integrity, so as to keep the pace of

their expropriation of the common man's

wealth below the level that would provoke a

sensible reaction on the part of it's victims.

Hey, don't mention it...It's just what any

libertarian would do for another bud!

Tue, 01/31/2012 - 21:54 | 2115320

My judgement right now: Most American

Ignorati are too busy trying to keep putting

food on the table to monitor the insane spending of

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Government decisions are

trustworthy because they are

monitored by a well informed

public. The publ ic are inform ed e n o u g h t o m o n i t o r a n d

e v a l u at e a l l g o v e rn m e n t

dec isions , how ever they a r e

t h e y a re s i m p l y n o t i n f o rm e d

enough to m ake the dec isions

t h e m s e l v e s. I t ’ s j u s t c om m o n

sense .

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8/3/2019 Latest Congressional Budget Outlook for 2012-2022 Released, Says Real Unemployment Rate is 10

http://slidepdf.com/reader/full/latest-congressional-budget-outlook-for-2012-2022-released-says-real-unemployment 8/16

TruthInSunshine

blindfaith

Let The

Wurlitz...

Silver Bug

LiquidityandLunacy

Don Birnam

the Govt. Cranial-Rectal inversion has numerous

cures, I suggest you investigate them!

Tue, 01/31/2012 - 11:34 | 2112821

I will call CBO's "real" unemployment rate of

10% and raise it to 15%.

That's pure unemployment (no underemployment in that

SWAG).

Throw in underemployment, with this groups ranks

swelled tremendously by those formerly working for a

company, but now considered "self-employed,"which

would include people who want to work full time, butwho are now only working 15 or 20ish hours a week, and

I'd be surprised if U6 was NOT an honest 21%.

I'm not using any other methodology except for what

I've read, seen and heard, melted into an amalgam, and

then adding a 50% government 'confidence fairy' bullshit

factor.

John Williams has better estimates (and higher estimates

for the unemployment/underemployment rate) based on

the use of a better sampling methodology based on the

use of actual facts and arithmetic than mine.

#Green shoots. Summers/Winters of Recovery. Turning the corner. Saveand/or creating trillions of jobs. Winning the future.

Tue, 01/31/2012 - 12:38 | 2113279

You keep this scary stuff up and the kids are going

to start wineing.

The only way THIS administration is going to get to

these hopium unemployment numbers is if all the

Irish, Itatilian, German, English, Spanish, Asian,

French and Swedish immigrants that came here overthe last 100 years all self -deport ( the new word for

our consideration thanks to Kris Kobach the author

of anti immigration legislation).

Tue, 01/31/2012 - 13:28 | 2113465

ETF

Ypu forgot "New Normal"

Tue, 01/31/2012 - 12:34 | 2113271

I think we can all agree. The unemployment

rate is most certainly not what the government

is telling us. We can see that with our own eyes!

http://silverliberationarmy.blogspot.com/

Tue, 01/31/2012 - 10:54 | 2112838

They're not useless....if youre constantly long the

market.

Tue, 01/31/2012 - 10:58 | 2112861

Rest assured that the "real" unemployment rate is

much higher than 10%. The calculus employed today

is statistical jabberwocky: the true rate lies upwards

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8/3/2019 Latest Congressional Budget Outlook for 2012-2022 Released, Says Real Unemployment Rate is 10

http://slidepdf.com/reader/full/latest-congressional-budget-outlook-for-2012-2022-released-says-real-unemployment 9/16

economics1996

JW n FL

Raging

Debate

quintago

tarsubil

of 15%.

Tue, 01/31/2012 - 11:34 | 2113014

About 11.3%.

Tue, 01/31/2012 - 11:59 | 2113143

http://www.shadowstats.com/

show them this when they are looking for numbers..

source and site your facts.. give them no where to

go but to the truth.. dont make it about your ego

make it about educating them.. so that we have

more people on our side when the time comes.

Tue, 01/31/2012 - 12:33 | 2113235

Well said JW in FL. The adversity for

many Americans will come through one's

own family. Careful not to get too

'aggggg--iiah- -taaaaded' eh eh. The word I am

mocking is 'agitated'.

If your stuffed into one of those places to force

you to become 'un-aggggg-iah-taaaaaded'

because your family is worried about you (your

probably the provider of the family and losing

your income is a thought too much for them to

bear) then I have advice in advance. I went first

into hades for you, I am a bit macabre like that

in experiments. I am talking about medical

facility. New wings of agitated people they can

bill you for being agitated.

1) Be a gent to the ladies having to play a male

role for too long. They will bend over backwards

for you and such need guidance and are really

lost in the maze of why or why not.

2) Such places are a treasure trove of people

needing real guidance and love. Participate in

every group and speak right up to lead them as

the Spirit leads.

3) Get over it fast when your done, it was a $7k

scam played on me. If this is the worst we see in

America then it is recoverable. The facts are the

facts and we can still go and demand them from

ideaological countrymen now lost in the maze.

As an aside the research gave me insights for

Pharmaceutical sector consulting I wouldn't have

had otherwise. So the cost of the experiment is

recoverable and what I will do with the Pharma's

should reduce over-prescribing. Perhaps win-win-

win. Stop being so chicken shit and squeamish

about a couple weeks out of your life to help

your countrymen.

Tue, 01/31/2012 - 12:50 | 2113335

You got some link love from Drudge ... you on the

map now son...

Tue, 01/31/2012 - 14:00 | 2113571

Holy crinkey. I was so confused when I clicked

on that and was sent here. This is real bad for

those that are behind like me. Time to get that

0% cc and buy all the Au and Ag I can. Hey, drudge

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8/3/2019 Latest Congressional Budget Outlook for 2012-2022 Released, Says Real Unemployment Rate is 10

http://slidepdf.com/reader/full/latest-congressional-budget-outlook-for-2012-2022-released-says-real-unemployment 10/16

SheepDog-One

Dreadker

Ruffcut

taniquetil

tabasco71

LFMayor

Goldilocks

Dreadker

people, don't worry. Everything is bone! Buy AAPL and

FCBK! Forget coins so silly.

Tue, 01/31/2012 - 10:33 | 2112752

Sure mom and dad Im gettin straight "F's" right now

and Im expelled from school, but next report card I'll

surely be on the Honor Roll! Now hand me more allowance!

Signed, The Clowngress.

Tue, 01/31/2012 - 10:35 | 2112760This is AMERICA! EVERY KID IS ON THE HONOR

ROLL REGARDLESS OF GRADES! lol

Tue, 01/31/2012 - 10:57 | 2112853

Next everyone will get trophies, too.

I knew a guy who wrote reports like this and he

said he didn't know where half of the information really

came from.

Instead of tea bags sent to congress, we should send a

roll of toilet paper and tell them to wipe their mouth

after talking.

Tue, 01/31/2012 - 10:59 | 2112866

True Story:

At my old high school, the administration actually did

away with the honor roll because parents of kids who

weren't on the honor roll complained that it was elitist,

discriminatory and excluded kids who weren't as

academically inclined.

Tue, 01/31/2012 - 11:13 | 2112923

That story sucks and I hate what it

represents.

You know, in my day and even now, if someone told

me I was crap, it made me try harder.

Tue, 01/31/2012 - 11:32 | 2113004

yes, but you bear the scars of that

trauma, you poort thing. We have

counselors standing by that can help

you. Visa, MC or PPO/HMO accepted.

Tue, 01/31/2012 - 17:09 | 2114438

From movie, The Incredibles (2004)

www.eslnotes.com/movies/pdf/the-

incredibles.pdf

http://www.imdb.com/title/tt0317705/quotes

Helen: I can't believe you don't want to go to your own

son's graduation.

Bob: It's not a graduation. He is moving from the 4th

grade to the 5th grade.

Helen: It's a ceremony!

Bob: It's psychotic! They keep creating new ways to

celebrate mediocrity, but if someone is genuinely

exceptional...

Tue, 01/31/2012 - 10:34 | 2112755

Ahhhhh.... Infinite growth all layed out with numbers

and stuff... Shame most people still don't understand

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8/3/2019 Latest Congressional Budget Outlook for 2012-2022 Released, Says Real Unemployment Rate is 10

http://slidepdf.com/reader/full/latest-congressional-budget-outlook-for-2012-2022-released-says-real-unemployment 11/16

YesWeKahn

lizzy36

swissaustrian

GeneMarchbanks

urbanelf

Vincent Vega

kito

connda

James-Morrison

connda

Rainman

exponential growth that has and is going on...

Tue, 01/31/2012 - 10:34 | 2112756

This is how Ben Bernanke forcasts the inflation.

Tue, 01/31/2012 - 10:35 | 2112761

Baseline scenerio otherwise known as "mark to unicorn

and rainbow scenerio".

Looking to call a book in the FY2013 scenerio. Whereby the full

year deficit is ONLY $585B (assumes bush tax cuts expire).

Over/Under for $1m. I will take the over.....looking for a

speculator (cough dumb(est)money) to take the under. Anyone.

Anyone at all?

Tue, 01/31/2012 - 10:36 | 2112762

Tuesday morning humor...

Tue, 01/31/2012 - 10:36 | 2112763

That... was kinda expected, no?

Tue, 01/31/2012 - 10:36 | 2112765

I really think the Harry Potter series has gone off the

deep end.

Tue, 01/31/2012 - 10:37 | 2112769Projections, exclusions, and assumptions...wish I could

run my finances that way.

Tue, 01/31/2012 - 10:37 | 2112770

most people use binoculars or a telescope to see far

ahead, the cbo uses a kaleidoscope..................

Tue, 01/31/2012 - 10:43 | 2112785

I think they use a Bohemian Grove brand Ouija

Board.

Tue, 01/31/2012 - 15:20 | 2113898

+1

(An empty cardboard, toilette-paper roll with a kool-

aid package taped on the end is more like it. This is the age

of U.S. austerity, doncha know.)

Tue, 01/31/2012 - 10:39 | 2112778

Sunshine, Roses. and Puppy-dog Smiles! And they all

lived happily ever after....

Tue, 01/31/2012 - 10:43 | 2112787

All data released by .gov will be sprinkled with fairy

dust for ( re ) Election '12

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8/3/2019 Latest Congressional Budget Outlook for 2012-2022 Released, Says Real Unemployment Rate is 10

http://slidepdf.com/reader/full/latest-congressional-budget-outlook-for-2012-2022-released-says-real-unemployment 12/16

Bam_Man

tarsubil

blindfaith

Offtheradar

lolmao500

SheepDog-One

kridkrid

Mr Lennon Hendrix

Tue, 01/31/2012 - 10:43 | 2112791

Producing doorstops like this keeps these useless, over-

paid bureaucrats busy.

Your Government in action.

Tue, 01/31/2012 - 10:54 | 2112793

This is so stupid that it is insulting.

Their baseline says that revenue will increase by 55%

between 2011 and 2015 while spending will increase by 6.5%. Ican only imagine the 100s of millions of dollars spent on this

report to get these predictions.

Tue, 01/31/2012 - 12:51 | 2113337

Thank you for your application, but we are only hiring

believers at the moment. Please feel free to re-apply at a

later date.

Tue, 01/31/2012 - 10:44 | 2112794

Since its all B.S. anyway, why not just forecast

budget surpluses in the trillions starting 2013. If your

going to lie, make it a doozy.

Tue, 01/31/2012 - 10:46 | 2112797

And since they are usually off the mark by at least

50%, trade accordingly.

And 5.5 trillion in revenues in 2022??? Won't happen unless

there's massive hyperinflation.

Unemployment to remain above 8% in 2012 and 2013; will be

around 7% by end of 2015; to drop to 5.25% by end of 2022.

Possible. If they cook the books enough. And you know if

there's one thing they are good at, it's cooking the books.

Tue, 01/31/2012 - 10:45 | 2112800

When your own approval rating is in single digits and

protesters are filling the streets, just proclaim 'Shut up,

you peasants have never had it better!'

Tue, 01/31/2012 - 10:46 | 2112801

Peak debt + Peak oil = Peak Civilization. It's all related.

The squeeze is on for the middle class. Health costs

rising... the amount that your company is willing to pay

falls. Any increase in pay that is connected with cost of living

won't take into account food and energy costs... how crazy is

that? The value of the things you own decreases, the cost of

the things you need increases... wages stagnate (if you can

stay employed). New normal. Every organization, including the

gov't, has been built on an expectation of infinite growth. Oh

well... reality sets in and our institutions will oscillate wildly and

then fail.

http://www.youtube.com/watch?v=gXLJElH_OR4

Tue, 01/31/2012 - 10:50 | 2112818

Sshhh!

You're going to piss of the unicorn sellers!

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8/3/2019 Latest Congressional Budget Outlook for 2012-2022 Released, Says Real Unemployment Rate is 10

http://slidepdf.com/reader/full/latest-congressional-budget-outlook-for-2012-2022-released-says-real-unemployment 13/16

8/3/2019 Latest Congressional Budget Outlook for 2012-2022 Released, Says Real Unemployment Rate is 10

http://slidepdf.com/reader/full/latest-congressional-budget-outlook-for-2012-2022-released-says-real-unemployment 14/16

kridkrid

Mr Lennon Hendrix

kridkrid

dwdollar

lolmao500

Dr. Engali

junkyardjack

JPM Hater001

lolmao500

Dr. Engali

"supercommittee" but yet our reality is our debt grows 5 trillion

in one year? Was that priced in?? You can't possibly know what

will happen in 5 years or 10 in this new bizzaro expenonetial

debt curve world. A six year old can tell you that.

Tue, 01/31/2012 - 10:58 | 2112862

Maybe not a 6 year old, but a 16 year old can,

when presented the right information. I told this

story here... over Christmas I went "home". One

evening conversation turned towards our debt based

monetary system. 20 adults not grasping what I was

saying... my closest friend's step son... a 16 year-old

thinker, not yet totally corrupted by the system says, "sodebt must grow exponentially, by definition. So we're

basically focked".

Tue, 01/31/2012 - 11:07 | 2112902

Zen mind, beginners mind. An open mind is

worth all the gold in the world.

Tue, 01/31/2012 - 11:18 | 2112944

The thing that to me is remarkable... it's

not even a tough concept to grasp. You

almost have to want to not think. There is

supporting evidence everywhere if you were so

inclined to want to challenge the premise, but people

don't even get that far.

Tue, 01/31/2012 - 10:50 | 2112811

How do I get a job for this CBO clown show? Must be

fun to sit around all day making up numbers and having

Congressmen pat you on the back for a job well done.

Tue, 01/31/2012 - 10:49 | 2112814

They are so full of shit, they think that interest on the

debt will stay at all time lows till at least 2015.

Tue, 01/31/2012 - 10:52 | 2112829

It's easy to keep the interest rates low when you

have a printing press it's the cost of everything else

that comes into question.

Tue, 01/31/2012 - 10:50 | 2112819

Well that's bullish, I thought it was closer to 15%

Tue, 01/31/2012 - 10:50 | 2112820

The can is becoming an immovable object. I pitty the

dumbass that tries to kick it when the Baby Boomers

really begin retiring in mass.

Tue, 01/31/2012 - 10:51 | 2112827

Then the ponzi ends.

Tue, 01/31/2012 - 10:53 | 2112822

I don't see any budget item for our upcoming wars in

Syria and Iran. Must be an oversight or an off balance

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8/3/2019 Latest Congressional Budget Outlook for 2012-2022 Released, Says Real Unemployment Rate is 10

http://slidepdf.com/reader/full/latest-congressional-budget-outlook-for-2012-2022-released-says-real-unemployment 15/16

lolmao500

Offtheradar

SheepDog-One

Bwahaha WAGFDSMB

HD

Mr Lennon Hendrix

JW n FL

JW n FL

sheet expense.

Tue, 01/31/2012 - 10:52 | 2112823

I think we can all agree that the biggest BS numbers in

there are the revenues numbers.

They basically say that revenues will go up by 50% by 2013.

Mwahahahahahhaaha

Tue, 01/31/2012 - 10:51 | 2112825

Idiocracy

Tue, 01/31/2012 - 10:53 | 2112837

Shut UP! 'Batin'!

Tue, 01/31/2012 - 10:52 | 2112832

2012 Deficit: $1.1 trillion; 2013 Deficit: $0.6

CBO predicts Obama will lose the election.

Tue, 01/31/2012 - 10:56 | 2112849

Romney has no job, makes $57,000 a day...and

pays 15% in taxes. Regardless to Obama's record - I

guarantee Mitt has an uphill battle beyond the GOP

base.

Tue, 01/31/2012 - 11:06 | 2112888

It our culture people vote for who the envy;

who they want to be. There are millions of Americans that look at Mittens and think, 'He's

like me! Only richer....but maybe one day I will live like

him if I elect him as my POTUS.' This is how it worked

for Obama. People thought if they elected him, he in

turn would make everyone a cool cat, like him. Same

with movie stars and rock stars. Most people leave the

theatre thinking, 'I like Pitt. He's sorta like me.' Then

they adopt his manuerisms, lingo, etc.

This is why Paul has a following, but also can not

connect to everyone. As much as he makes sense,

some people don't want to think there are problems.

Elect Paul, and we are saying there are problems.

'There are no problems, except that I had to move my

tee time back half an hour!'

'Yuck, yuck!'

Tue, 01/31/2012 - 12:27 | 2113246

NO ONE LIKES THE TRUTH! SO!!

shhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh.

Tue, 01/31/2012 - 12:27 | 2113248

NO ONE LIKES THE TRUTH! SO!!

shhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh.

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8/3/2019 Latest Congressional Budget Outlook for 2012-2022 Released, Says Real Unemployment Rate is 10

http://slidepdf.com/reader/full/latest-congressional-budget-outlook-for-2012-2022-released-says-real-unemployment 16/16