nevermind "Wolfman" - this is the REAL scary stuff...National Debt & Budget Deficit summary, and how it affects unborn Americans...

Drowning in Debt: What the Nation's Budget Woes Mean for You
Economists Predict Cutbacks, Tax Increases That 'Aren't Even Imaginable'
By DEVIN DWYER
WASHINGTON, Feb. 17, 2010—

American political and economic leaders have sounded the alarm for years about the red ink rising in reports on the federal government's fiscal health.

But now the problem of mounting national debt is worse than it ever has been before with -- potentially dire consequences for taxpayers, according to a report by the nonpartisan Peterson-Pew Commission on Budget Reform.

"It keeps me awake at night, looking at all that red ink," said President Obama in Nashua, N.H., on Feb. 2. "Most of it is structural and we inherited it. The only way that we are going to fix it is if both parties come together and start making some tough decisions about our long-term priorities."

Obama will sign an executive order tomorrow that establishes a bipartisan National Commission on Fiscal Responsibility and Reform to make recommendations on how to reduce the country's debt.

Over the past year alone, the amount the U.S. government owes its lenders has grown to more than half the country's entire economic output, or gross domestic product.

Even more alarming, experts say, is that those figures will climb to an unprecedented 200 percent of GDP by 2038 without a dramatic shift in course.

"Within 12 years&the largest item in the federal budget will be interest payments on the national debt," said former U.S. Comptroller General David Walker. "[They are] payments for which we get nothing."

(click below for rest of scary story...)

National Debt, Budget Deficit: A Scary Forecast for Taxpayers? - ABC News

CBO expert states preventive care will rise - not cut - healthcare costs

I've stated this many times, and I will again: during Bush's 8 years of destroying America, no one's numbers, analysis and measured foresight was more accurate than the Congressional Budget Office's (CBO), with regards to spending on wars, bailouts, defense, infrastructure, economy, security, and on and on. The CBO did an amazing job of impartially stating things how they saw it, and informed all of us what things would cost, and how those costs - or cuts - would shape the years, and decades ahead. I trusted them then, I trust them now. And as much as I want universal healthcare for every american, a public option, competition for the corrupt healthcare insurance industry, etc, now might just not be the time. The CBO won't be going away any time soon (it's their job to shed independent light on congress's machinations), and seriously, the bottom bottom bottom line is this: there is only so much fucking money. It would behoove Obama and the Dems to listen to the CBO. As a liberal dem, I WANT them to listen. The stakes are extremely high for this healthcare reform fight; and Americans, the Democratic party, and the status quo, can't afford the dems screwing this up; not now, or for the years to come. - sj

Congressional Budget Expert Says Preventive Care Will Raise -- Not Cut -- Costs
from ABC News
by Jake Trapper, ABC News Sr. WH Correspondent and the ABC News WH Team
August 09, 2009 9:27 AM

In yet more disappointing news for Democrats pushing for health care reform, Douglas W. Elmendorf, director of the Congressional Budget Office, offered a skeptical view Friday of the cost savings that could result from preventive care -- an area that President Obama and congressional Democrats repeatedly had emphasized as a way health care reform would be less expensive in the long term.

Obviously successful preventive care can make Americans healthier and save lives. But, Elmendorf wrote, it may not save money as Democrats had been arguing.

"Although different types of preventive care have different effects on spending, the evidence suggests that for most preventive services, expanded utilization leads to higher, not lower, medical spending overall," Elmendorf wrote. "That result may seem counterintuitive.

click here for the rest