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| Keywords: CBO - Public Debt Scenarios - June 2011.png CBO Long-Term Public Debt Scenarios 2011 06 25 <br /> 2011-06-25 http //www cbo gov/ftpdocs/122xx/doc12212/2011_06_22_summary pdf Transferred from http //en wikipedia org en wikipedia by SreeBot Farcaster at en wikipedia other versions Chart scenario explanations The CBO reported during June 2011 two scenarios for how debt held by the public will change during the 2010-2035 time period The extended baseline scenario assumes that the Bush tax cuts extended by Obama will expire per current law in 2012 It also assumes the alternative minimum tax AMT will be allowed to affect more middle-class families reductions in Medicare reimbursement rates to doctors will occur and that revenues reach 23 GDP by 2035 much higher than the historical average 18 Under this scenario government spending on everything other than the major mandatory health care programs Social Security and interest on federal debt activities such as national defense and a wide variety of domestic programs would decline to the lowest percentage of GDP since before World War II Under this scenario public debt rises from 69 GDP in 2011 to 84 by 2035 with interest payments absorbing 4 of GDP vs 1 in 2011 The alternative fiscal scenario more closely assumes the continuation of present trends such as permanently extending the Bush tax cuts restricting the reach of the AMT and keeping Medicare reimbursement rates at the current level the so-called Doc Fix versus declining by one-third as mandated under current law Revenues are assumed to remain around the historical average 18 GDP Under this scenario public debt rises from 69 GDP in 2011 to 100 by 2021 and approaches 190 by 2035 The CBO reported Many budget analysts believe that the alternative fiscal scenario presents a more realistic picture of the nation ™s underlying fiscal policies than the extended-baseline scenario does The explosive path of federal debt under the alternative fiscal scenario underscores the need for large and rapid policy changes to put the nation on a sustainable fiscal course <ref>http //www cbo gov/ftpdocs/122xx/doc12212/2011_06_22_summary pdf CBO 2011 Long-Term Budget Outlook-June 2011</ref> References reflist PD-USGov Original upload log page en wikipedia CBO_-_Public_Debt_Scenarios_-_June_2011 png Upload date User Bytes Dimensions Comment 2011-06-25 22 45 UTC Farcaster 66856 bytes 960×720 <small><nowiki> CBO Long-Term Public Debt Scenarios http //www cbo gov/ftpdocs/122xx/doc12212/2011_06_22_summary pdf ~~~~~ ~~~~ </nowiki></small> United States government debt | ||||
