How accurate are long-run budget projections? Q.How accurate are long-run budget projections? A.Some elements of spending—health care costs and interest on the federal debt—are difficult to predict. But even in the best scenarios, the debt will remain a significant problem. Read more about How accurate are long-run budget projections?
What have budget trends been over the short and long term? Q.What have budget trends been over the short and long term? A. Federal budget deficits are largely driven by external events—war, recession—in the near term and by demography in the long run. When events conspire to drive revenues above the trend, tax cuts usually bring them down with alacrity. Read more about What have budget trends been over the short and long term?
What is PAYGO? Q.What is PAYGO? A.A budget rule requiring that new legislation affecting revenues and spending on entitlement programs, taken as a whole, does not increase projected budget deficits. Read more about What is PAYGO?
