Allen West’s Weekly Update “America Has Crossed The ‘Red Line” on @Next_GenTV @PJTV

America Has Crossed The ‘Red Line’
It’s a millstone of debt, not a milestone to celebrate

AW NGTV

Greetings to all Americans, and here we are for another installment of the Next Generation weekly update.

We launched our “Next Generation Today” programming this week. Our pilot episode will give you a taste of the great content to come as we develop the show. Please watch it and share your feedback. Let us know what you like and what else you want to see in the future. Michelle, John and I appreciate your comments. Please keep them coming.

We also updated the Next Generation Data Card, which we encourage you to download here. We will update this card monthly to give you a quick snapshot of several key economic indicators.

Economic perspective from the CBO

Speaking of our economy, the nonpartisan Congressional Budget Office released yet another alarming report this week. CBO’s forecast for America is bleak, as the office analyzed our growing debt and its relationship to our gross domestic product. America now finds herself with a greater debt than GDP. In other words, we owe more than we produce.Economists will tell you the figurative “red line” that marks excessive debt is around 90 percent of debt to GDP. We have eclipsed that threshold.

Even more alarming is that if we add our unfunded liabilities – the mandatory spending for programs such as Medicare, Medicaid and Social Security – we have far exceeded the threshold. And that was the crux of the CBO report – that we must reform mandatory spending programs and get them under control.

The CBO also found that 7 million to 8 million Americans could lose their employer-based healthcare benefits thanks to the president’s plan. Remember, the law was touted in 2010 as only costing American taxpayers $940 billion. CBO later revised that cost to $1.1 trillion and just this week revised the cost to $1.3 trillion over the next 10 years.

I suppose it was as then-House Speaker Nancy Pelosi stated: “We have to pass the bill so that you can find out what is in it.”

TO CONTINUE THE REST OF THE WEEKLY NEWSLETTER CLICK HERE: NEXT GENERATION TV

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