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The Spectacle Blog
Today the Congressional Budget Office released the Long-Term Budget Outlook. The report gives a clear picture of the country's fiscal situation, and projects spending and revenues into the future. There will be plenty of commentary on this document to come (Paul Ryan is already broadcasting the report's warnings about spending), but for now here are the best graphs from the outlook:
This chart shows the projected debt (the alternative fiscal scenario is the most likely path):
This one shows the same projection over a longer timeframe:
Lastly, this chart includes the composition of the spending, and shows that the unsustainable spending is mostly driven by government spending on health care:
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More Blog Posts by Joseph Lawler
http://spectator.org/blog/2011/06/22/the-best-graphs-from-the-cbos
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RTamlin| 6.22.11 @ 6:01PM
What utter BS. The "alternative scenario" is the one with tax cuts and the "extended baseline" scenario is the one with tax increases. Only a liberal bias could have tax cuts causing our debt to skyrocket. They must be making the liberal assumption that tax increases promote economic growth. Bogus with a capital B.
weddingdresses| 6.23.11 @ 5:28AM
What utter BS. The "alternative scenario" is the one with tax cuts and the "extended baseline" scenario is the one with tax increases. Only a liberal bias could have tax cuts causing our debt to skyrocket. They must be making the liberal assumption that tax increases promote economic growth. Bogus with a capital B.