{"id":47587,"date":"2019-08-05T06:20:54","date_gmt":"2019-08-05T11:20:54","guid":{"rendered":"https:\/\/olduvai.ca\/?p=47587"},"modified":"2019-08-05T06:20:58","modified_gmt":"2019-08-05T11:20:58","slug":"opinion-10-alarming-things-about-the-economy-that-politicians-wont-tell-you","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=47587","title":{"rendered":"Opinion: 10 alarming things about the economy that politicians won\u2019t tell you"},"content":{"rendered":"\n

Opinion:\u00a010 alarming things about the economy that politicians won\u2019t tell you<\/a><\/h3>\n\n\n\n

The Congressional Budget Office reveals shocking forecasts for immigration, debt and spending for the next 30 years<\/strong><\/p>\n\n\n\n

\"\"\/
The national debt is expected to skyrocket to an unprecedented 144% of gross domestic product by 2049, or twice the level today.<\/figcaption><\/figure>\n\n\n\n

How do you know a politician is lying to you? Simple: His lips are moving. <\/p>\n\n\n\n

Yes, it\u2019s an old one \u2014 but none the worse for that.<\/p>\n\n\n\n

The 2020 election season is getting into full swing. Politicians on all sides are ramping up their rhetoric, including their promises, forecasts and accusations.<\/p>\n\n\n\n

But it\u2019s fascinating what you can find out if you just read official documents. Especially some of the fine print.<\/p>\n\n\n\n

And here are 10 remarkable forecasts and assumptions that Washington is making and isn\u2019t telling you. These are all contained in the Congressional Budget Office\u2019s most recent Long-Term Budget Outlook<\/a>, the cornerstone document of government financial and economic planning.<\/p>\n\n\n\n

1. We\u2019re going to have a lot more immigrants. A lot. They\u2019re expecting a net 22.5 million more immigrants to come to the U.S. over the next 20 years. By 2049, they\u2019re expecting immigration to account for a stunning 87% of annual population growth.<\/p>\n\n\n\n

2. We\u2019re going to have a lot more illegal immigrants. Despite the current bluster and the scandals at the border, the CBO expects we\u2019ll have 2.4 million more illegal immigrants (or \u201cundocumented residents,\u201d or whatever) in 20 years\u2019 time than we have today. <\/p>\n\n\n\n

3. We\u2019re going to be up to our eyeballs in debt. The national debt is expected to skyrocket to an \u201cunprecedented\u201d 144% of gross domestic product by 2049, or twice the level today. That would put the debt just under $100 trillion. The figure today: Around $18 trillion. As recently as 2000: $4 trillion. Oh, and this isn\u2019t even the worst-case scenario: The national debt could exceed 200% of GDP in 30 years\u2019 time, the CBO acknowledges.<\/p>\n\n\n\n

\u00a0\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

Opinion:\u00a010 alarming things about the economy that politicians won\u2019t tell you The Congressional Budget Office reveals shocking forecasts for immigration, debt and spending for the next 30 years How do you know a politician is lying to you? Simple: His lips are moving.  Yes, it\u2019s an old one \u2014 but none the worse for that. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[26422,1654,195,11497,827],"class_list":["post-47587","post","type-post","status-publish","format-standard","hentry","category-economics","tag-brett-arends","tag-congressional-budget-office","tag-debt","tag-market-watch","tag-united-states"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/47587","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=47587"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/47587\/revisions"}],"predecessor-version":[{"id":47588,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/47587\/revisions\/47588"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}