While some economists see deficit emphasis as an impeding recovery, the Congressional Budget Office says the only thing worse for the economy would be no deficit emphasis.

“We don’t have an immediate crisis in terms of debt,” President Barack Obama said today, during a discussion of the federal deficit and budget talks with Congress in an interview aired by ABC News’ “Good Morning America.”’ “In fact, for the next ten years, it’s gonna be in a sustainable place.”

This week, the nonpartisan Congressional Budget Office (CBO) released a new report that gives a shocking glimpse into our fiscal future if we continue on our current trajectory. But on the same day, President Obama said that our economy was poised for growth in 2013 as long as we continue to make the right “investments.” So did all this spending really help get our economy back on track, or are we just setting ourselves up for more pain down the road? And will the president detail his plans to cut spending in next week’s State of the Union address?

The Congressional Budget Office (CBO) today released an updated score showing that repealing the Affordable Care Act would cut $890 billion of new spending. While the CBO predicts the law will reduce the deficit by $109 billion over the next ten years because of the new taxes contained in the bill, a majority of the spending won’t begin for another two years