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Research report

The Federal Budget Outlook, Chapter 11

Alan J. Auerbach, William G. Gale
September 16, 2010
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Abstract

We present new estimates of the budget outlook, based on the latest projections from the Congressional Budget Office and the Medicare and Social Security Trustee reports. The medium-term budget outlook has not changed appreciably since earlier this year. Under reasonable assumptions, the federal government is likely to face deficits in excess of 6 percent of GDP by late in the decade, with the debt-GDP ratio reaching 90 percent by or before 2020 and passing its previous all-time high of 109 percent by around 2022.

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Federal Budget and Economy Individual Taxes
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