Revenues, spending, and primary deficits under current law and current policy scenarios.
June 15, 2012
SOURCE: Data from the Congressional Budget Office, The 2012 Long-Term Budget and Economic Outlook, June 2012. Compiled by PGPF.NOTE: Current law is represented by CBO's extended baseline scenario; current policy is represented by CBO's extended alternative fiscal scenario.
Current law assumes that many tax policies set to expire are allowed to do so and that spending restraints contained in current law are allowed to take effect. However, in the past, policymakers have extended those tax cuts and repeatedly waived some of those spending cuts. Under current policy, tax cuts are extended and spending restraints are eased. Under the more realistic current policy scenario, primary (noninterest) deficits occur throughout the projection period.
This chart appeared as part of PGPF's analysis of Congressional Budget Office's 2012 Long-Term Budget Outlook. To read the full report, click here.
Download: Image | PDF | More Charts
Continuing Current Policies
Federal Deficits Projection Revenue, Spending, and Primary Deficits Under Two ScenariosWhere The Growth In Spending Comes From
2013 Fiscal Summit: Press Release
2013 Fiscal Summit: Media Advisory
Fiscal Confidence Index Results for April 2013
PGPF Provides $1 Million Grant to Newly-Established Rudman Center
Pete Peterson on Simpson-Bowles "Bipartisan Path Forward"
Analysis: President's FY 2014 Budget
Ways You Can Get Involved:
Q&A with Pete Peterson
Foundation Chairman candidly discusses fiscal and personal topics.
Engaging Americans in a movement to address the nation's fiscal challenges.
State of theUnion's Finances
Steps you can take to help cure our fiscal ills.
"I.O.U.S.A." "may be to the U.S. economy what 'An Inconvenient Truth' was to the environment."
to Get the PGPF Newsletter.
© 2009-2013 Peter G. Peterson Foundation. All rights reserved.