Accurate, Focused Research on Law, Technology and Knowledge Discovery Since 2002

You Are Here: Home » E-Government, Government Documents » CBO – The Long-Term Budget Outlook, June 2009

CBO – The Long-Term Budget Outlook, June 2009

by on

The Long-Term Budget Outlook, June 2009:

  • “Under current law, the federal budget is on an unsustainable path—meaning that federal debt will continue to grow much faster than the economy over the long run. Although great uncertainty surrounds longterm fiscal projections, rising costs for health care and the aging of the U.S. population will cause federal spending to increase rapidly under any plausible scenario for current law. Unless revenues increase just as rapidly, the rise in spending will produce growing budget deficits and accumulating debt. Keeping deficits and debt from
    reaching levels that would cause substantial harm to the economy would require increasing revenues significantly as a percentage of gross domestic product (GDP), decreasing projected spending sharply, or some combination of the two.”

  • Related postings on financial system
    • LinkedIn

    Sorry, comments are closed for this post.