Deficits final
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The document projects that federal deficits will rise between 2014 and 2024 according to CBO estimates, with discretionary spending declining as a percentage of GDP as war spending is drawn down. Medicare costs are also projected to moderate slightly as a percentage of GDP over this period.
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Deficits final
- 1. Note: Figures are adjusted for war spending drawdown Source: CBO Alternative Fiscal Scenario, July 2014 In $bn Deficits Projected To Rise
- 2. Discretionary Spending Getting Squeezed % of GDP Note: Discretionary spending is adjusted for war spending drawdown Source: CBO 5.9 5.6 4.9
- 3. Source: CBO Alternative Fiscal Scenario, July 2014 Medicare Costs Moderating % of GDP 4.7% 5.2%