Quote:
Originally Posted by stekim";p="
trillion, not four. Just for starters. Second, comparing it to GDP makes no sense. GDP does not pay the debt back. But you will see. Just wait.
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"Realistic assumptions indicate deficits will total
$4.4 trillion over the next decade."
"A more realistic projection that takes these omitted costs into account shows deficits averaging above $440 billion per year over the next ten years and totaling
$4.4 trillion over the ten-year period."
"CBO’s new report and other CBO documents include additional estimates indicating that if the tax cuts are continued and projected defense expenditures are adjusted to make them more realistic (including both a downward adjustment to reflect an assumption that operations in Iraq and Afghanistan will phase down over the next few years and an upward adjustment to reflect the full cost of the Administration’s multi-year defense plan), projected deficits will not fall below $340 billion in any year, will average more than $440 billion per year over the next decade, and will total approximately
$4.4 trillion over the ten-year period. (A recent Goldman-Sachs analysis concludes that the ten-year deficit is likely to be higher and could total between $5 trillion and $6 trillion.)"
http://www.cbpp.org/9-7-04bud.htm
Center of Budget and Policy Priorities