US Fiscal Path Unsustainable: Senior Budget Analyst

March 8, 2010

Hello list,

With transit Rahu conjunct natal 4th lord Venus in the 6th house of the SAMVA USA chart, transit 6th lord Jupiter in the 8th house under aspect from natal Ketu in the 4th house and transit 2nd lord Sun also in the 8th house under aspect from transit Ketu in the 12th house, it is little wonder that concerns over the US fiscal situation become pronounced, with a leading government official describing the outlook as "bleak" - that is, unless spending is cut or taxes raised.

Monday, 8 Mar 2010 | 1:27 PM ET - Reuters

U.S. fiscal policy is on an unsustainable path of a huge budget gap that cannot be rectified by minor tinkering, a senior budget policy analyst said on Monday. While the U.S. economy has benefited from government stimulus measures, further assistance from additional stimulus would also expand the yawning budget gap, Douglas Elmendorf, director of the Congressional Budget Office, said. The budget-saving approach used in the past several decades, paying for increases in retirement and health care programs through cuts in defense spending, is not feasible in the future, Elmendorf told the National Association of Business Economists. Defense cuts alone would be

insufficient to rein in the shortfall, he said, adding that significant tax increases or spending cuts are likely to be necessary. Elmendorf described the outlook for the budget under current policies as "bleak."

http://www.cnbc.com/id/35763337

Thor