CBO projects a decade of trillion-dollar deficits and soaring US debt

[progree]

2. Some links to the report and to report summaries and slide show presentations

((My commentary is shown in double parenthesis, like this one -Progree))

# The Economic Outlook for 2020 to 2030 in 24 Slides - https://www.cbo.gov/publication/56051

# The Budget Outlook for 2020 to 2030 in 13 Slides - https://www.cbo.gov/publication/56050

Slide #12 - ((a big jump in revenues after certain provisions of the 2017 tax act expire at the end of 2025. So their deficit and debt projections assume that these provisions won't be renewed. If they are renewed, the situation is much worse than projected in this report))

((UGHH: "real bracket creep and related effects" increases from about 0.03% to about 0.45% of GDP from 2021 to 2030 (from my measurements of the graph). So the 2017 tax act (TCJA)'s changing to chained CPI for adjusting the income tax brackets for inflation in future years will bite harder and sooner than I expected.))

# Director’s Statement on The Budget and Economic Outlook: 2020 to 2030 - blog post https://www.cbo.gov/publication/56052

# An Overview of The Budget and Economic Outlook: 2020 to 2030 -- Director Phillip Swagel briefs members of the press on The Budget and Economic - https://www.cbo.gov/publication/56080

(( #3 - hmm, net interest is about 1/3 of the deficit in 2020, and about 1/2 of the deficit in 2030 -- eyeballing the graph ))

((#4 - federal debt held by public: projected to reach 180% of GDP in 2050 (yes, 2050) -- from my meaasurements of the graph ))

# The Budget and Economic Outlook: 2020 to 2030 - Report - https://www.cbo.gov/publication/56020 ((the full report))

================

Net interest on the federal debit is expected to expand from 1.7% of GDP in 2020 to 2.6% of GDP in 2030. (( These interest payments go mostly to the wealthy, and foreigners get a bit more than 1/4 of it. ))