Highlights:
"The federal budget deficit, which has fallen sharply during the past few years, is projected to hold steady relative to the size of the economy through 2018. Beyond that point, however, the gap between spending and revenues is projected to grow, further increasing federal debt relative to the size of the economy—which is already historically high."
These projections ASSUME no recessions for the next ten years:
"The Economy Will Grow at a Solid Pace Over the Next Few Years"
"For 2020 through 2025, CBO projects that real GDP will grow by an average of 2.2 percent per year—a rate that matches the agency’s estimate of the potential growth of the economy in those years"
"The agency’s projections beyond the next few years are not based on estimates of cyclical developments in the economy, because the agency does not attempt to predict economic fluctuations that far into the future"
Under the best case scenario which assumes no recessions for a decade ( like the one already starting) the deficit will grow by 8% compounded annually and double by 2025 to $1.088 trillion.
Since WWII, there hasn't been one decade without at least one recession and this wreckovery is already six years old.
Now that's Harvard-quality analysis.
