The Hill reports:
Fundamental changes to the federal budget will be needed to rein in unsustainable deficits, Congress’s budget watchdog said Thursday.
“U.S. fiscal policy is unsustainable, and unsustainable to an extent that it can’t be solved through minor changes,” Congressional Budget Office (CBO) Director Douglas Elmendorf told reporters at a Christian Science Monitor breakfast…
Elmendorf’s remarks come a day after Federal Reserve Chairman Ben Bernanke also called on policymakers to put in place a plan to reduce deficits.
“Unless we as a nation demonstrate a strong commitment to fiscal responsibility, in the longer run we will have neither financial stability nor healthy economic growth,” Bernanke said in a speech Wednesday.
Boo hoo hoo! It’s a good thing ObamaCare is going to reduce the deficit, or we might be in trouble. Actually, it was the CBO that said so. So… why are they worried about government spending now? Here, look, CBO: You just open the fridge and the light comes on. See? Don’t worry so much.