Excerpt, highlight added A new congressional report released Friday says the United States' long-term fiscal woes are even worse than predicted by President Barack Obama's grim budget submission last month.
The nonpartisan Congressional Budget Office predicts that Obama's budget plans would generate deficits over the upcoming decade that would total $9.8 trillion. That's $1.2 trillion more than predicted by the administration.
The agency says its future-year predictions of tax revenues are more pessimistic than the administration's. That's because CBO projects slightly slower economic growth than the White House.
The deficit picture has turned alarmingly worse since the recession that started at the end of 2007, never dipping below 4 percent of the size of the economy over the next decade. Economists say that deficits of that size are unsustainable and could put upward pressure on interest rates, crowd out private investment in the economy and ultimately erode the nation's standard of living.
Still, the Feb. 1 White House budget plan was a largely stand-pat document that avoided difficult decisions on curbing the unsustainable growth of federal benefit programs like the Medicare health care program for the elderly and Medicaid, which provides health care to the poor and disabled.
Instead, Obama has created an 18-member fiscal reform commission that's charged with coming up with a plan to shrink the deficit to 3 percent of the economy within five years. But the Republicans to be named to the panel by congressional GOP leaders are unlikely to go along with any tax increases that might be proposed, which could ensure election-year gridlock."
While the president is intent on ramming through Congress a new trillion-dollar health-care entitlement, he appears far less concerned with addressing the looming crisis of entitlement spending already on the books,' said Rep. Paul Ryan of Wisconsin, the top Republican on the Budget Committee.
'Instead, he delegates this task to a 'Fiscal Commission' — which would not even report until after the next election.
The Tomorrow’s World Bible Study Course is now available online! This Bible Study Course will take you through your own Bible and make plain the answers to many questions such as: Why study the Bible today? Are we living in the last days? Can you understand Bible prophecy?
"Two circulating beams have produced the first particle collisions in the world's biggest atom smasher, the Large Hadron Collider (LHC), three days after its restart, scientists announced."... "The LHC took nearly 20 years to construct and aims to resolve physics enigmas such as an explanation for 'dark matter' and 'dark energy' that account for 96 per cent of the cosmos and whether other dimensions exist parallel to our own.
The Holy Grail will be finding a theorised component called the Higgs Boson, which would explain how particles acquire mass. The frustratingly elusive Higgs has been dubbed the 'God particle'."
The rise of the First Beast, the revived Holy Roman Empire, Watch the phenomenal growth of the European Union.
The Second Beast, the False Prophet performs exceedingly mighty signs and declares himself God. Watch this great european religious leader as he progressively assumes the status of god. Symbolically rides astride the First Beast.
The Muslim nations unite against the the Holy Roman Empire/False Prophet rule.
The War between the First Beast and the King of the South, the confederation of Muslim nations results in victory to the First Beast.
The 2 Beasts take over Jerusalem.
The False Prophet replaces Jewish animal sacrifices with pagan rituals. Abomination of Desolation instituted. The start of the Great Tribulation.
Although in mainstream Orthodox Judaism the rebuilding of the Temple is generally left to the coming of the Jewish Messiah and to Divine Providence, a number of organizations, generally representing a small minority of even Orthodox Jews, have been formed with the objective of realizing the immediate construction of a Third Temple in present times.
As part of its ongoing effort to prepare for a future rebuilt Temple, the Temple Institute has been preparing ritual objects suitable for Temple use.