H L Quist - The Myth Buster

Our FEATURE today focuses on the out of control fiscal deficits that exceed a TRILLION dollars per year for "as long as the eye can see". The numbers have been estimated by the Congressional Budget Office (CBO). They project an annual deficit in the FY ending September 31st of 4% of GDP increasing to 6% by the year 2022. The total Federal debt is now $21 trillion and will certainly exceed $25 trillion by the year 2022. Experts say the CBO does not assume a recession in their estimates "which is highly implausible". A fiscal crisis is looming. One item of expense that impacts every state is the rising cost of Medicaid. 28% of all states spending is on this medical assistance program for the poor. It is the largest expense after elementary and secondary education and it too is out of control. Arizona teachers as well as other states quite possibly have not considered how negatively this will impact their salary and benefit demands. We offer our input. Other topics include: Yo Yo markets forecast a favorable equ