CBOII - Congressional Budget Office Association for Public...

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Congressional Budget Office Association for Public Policy Analysis and Management Aging and Health: The Challenges of Entitlement Growth Douglas W. Elmendorf Director November 6, 2009
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Federal Deficit or Surplus Percentage of GDP 1965 1968 1971 1974 1977 1980 1983 1986 1989 1992 1995 1998 2001 2004 2007 2010 2013 2016 2019 -12 -10 -8 -6 -4 -2 0 2 4 Actual Baseline Projection 1
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Three Reasons That the Fiscal Challenge Is Especially Acute Current policy as perceived by many people would generate much larger deficits than current law as captured in CBO’s baseline. Federal debt is already very large relative to GDP by historical standards. Population aging and rising health spending will continue to push up federal spending under current law. 2
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Revenues and Outlays Under Policy Alternative to Extend Tax Cuts and Index Alternative Minimum Tax Percentage of GDP 3 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 0 14 16 18 20 22 24 26 28 Actual Projected Outlays Revenues Extend Tax Cuts and Index AMT Extend Tax Cuts and Index AMT Baseline
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Percentage of GDP 4 1940 1950
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This note was uploaded on 02/21/2010 for the course ECON 330 taught by Professor Iorio during the Spring '10 term at USC.

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CBOII - Congressional Budget Office Association for Public...

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