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<blockquote data-quote="brett636" data-source="post: 891523" data-attributes="member: 249">Point was CBO is unbiased.&nbsp; No one said it didnt make mistakes at times but it is nonpartisan and its numbers are always closer to reality than both parties&#039; numbers.&nbsp; Fact is the CBO did predict by 2012 that the entire national debt would be paid off assuming of course continued growth .&nbsp; A matter of fact the budget people were afraid that the debt would be totally gone . It was spelled out in a memo titled &quot;Life After Debt&quot;&nbsp; dated the year 2000.&nbsp; I heard it on NPR today.&nbsp; They said it was a potential crisis if the US paid off its debt because there would be no more US treasury bonds in the world.&nbsp; Since the US borrows $$ selling bonds, the end of debt would mean the end of treasury bonds which are a safe place to put your $$.&nbsp; Much of the world economy depends on them.&nbsp; They are the &quot;pillar of the global economy&quot;.&nbsp; Banks put their $$ in them, mortgage&nbsp; rates are tied to the interest rate on US treasury bonds.&nbsp; They spoke about what would the govt do with the $$ that comes out of our paychecks for social security?? Right now that surplus gets invested in treasury bonds. They continue what would they invest that $$ in?? Stocks??&nbsp; Then who picks ??&nbsp;&nbsp; In the end the expert on this issue says it is good to pay down the debt but just not all of it.</blockquote>The CBO may be listed as nonpartisan, but the rules it is supposed to go by are written by partisan politicians who know how to write legislation to get the budget scoring they were shooting for therefore the CBO is still partisan.[/QUOTE]

[QUOTE="brett636, post: 891523, member: 249"] Point was CBO is unbiased. No one said it didnt make mistakes at times but it is nonpartisan and its numbers are always closer to reality than both parties' numbers. Fact is the CBO did predict by 2012 that the entire national debt would be paid off assuming of course continued growth . A matter of fact the budget people were afraid that the debt would be totally gone . It was spelled out in a memo titled "Life After Debt" dated the year 2000. I heard it on NPR today. They said it was a potential crisis if the US paid off its debt because there would be no more US treasury bonds in the world. Since the US borrows $$ selling bonds, the end of debt would mean the end of treasury bonds which are a safe place to put your $$. Much of the world economy depends on them. They are the "pillar of the global economy". Banks put their $$ in them, mortgage rates are tied to the interest rate on US treasury bonds. They spoke about what would the govt do with the $$ that comes out of our paychecks for social security?? Right now that surplus gets invested in treasury bonds. They continue what would they invest that $$ in?? Stocks?? Then who picks ?? In the end the expert on this issue says it is good to pay down the debt but just not all of it.[/QUOTE] The CBO may be listed as nonpartisan, but the rules it is supposed to go by are written by partisan politicians who know how to write legislation to get the budget scoring they were shooting for therefore the CBO is still partisan. [/QUOTE]

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