Friday, January 26, 2007

Must See TV: CBO future budget numbers assume tax cuts are not extended

From yesterday's C-SPAN Washington Journal (real video), Peter Orszag, Congressional Budget Office (CBO), Director, discusses The Budget and Economic Outlook: Fiscal Years 2008 to 2017 and takes viewer calls.

Mr. Orszag clearly pointed out that future budget numbers he's operating off of assume the tax cuts passed in the early part of the Bush administration are not extended. The increase in revenue in 2011 would be "significant"...and estimated at "$250 billion" according to the CBO director.

Here's the graph that's on the cover page of the outlook report showing the relative growth of the projected GDP when compared to Medicate,Medicaid and Social Security spending:

1 Comments:

Blogger rusty shakelford said...

I have been following this story for some time. A great site with a fresh point of view is

http://www.optimist123.com/optimist/

I don't think you would agree with everything but he has some interesting points.

January 26, 2007 at 8:47 PM  

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