Courtesy of previous Zero Hedge disclosures, namely that the CBO has been in the past bothperpetually and grossly overoptimstic (their 2001 forecast of 2011 public debt was negative $2.4 trillion; instead the real number was positive $10.4 trillion, a delta of only $12.8 trillion) as well as explicitly biased by political and financial interests as exposed by whistleblowers, are two things most of our readers are well aware of. What they however may not know, is that when it comes to the most recent forecast of US public debt as released hours ago, the CBO has officiallyrun out of charting space. As can be seen on the graphc below, sometime in 2042 the CBO will need a bigger chart to represent US public debt as per the Extended Alternative Fiscal Scenario, which the CBO itself admits “
is more representative of the fiscal policies that are now (or have recently been) in effect than is the extended baseline scenario.“ And it is to this off-the-chart line that Keynesian lunatics want to add MORE debt? Actually why not, it is not as if the US will ever repay any of these exponentially-rising obligations.
Here is how the CBO presents the only somewhat realistic outlook: …