The Heritage Foundation reports:
Budget deficits are far larger than CBO projects.
Realistic baseline assumptions show that the federal budget is in much worse shape than the CBO’s baseline numbers indicate. While CBO projects a balanced budget by 2012, it is far more likely that the deficit will explode:
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The deficit will reach $394 billion in 2006;
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$412 billion in 2007;
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$428 billion in 2008;
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$436 billion in 2009;
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$458 billion in 2010; and
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$805 billion in 2015.
and check out interest on the national debt:
The combination of large deficits and rising interest rates push projected net interest costs up from $184 billion in 2005, to $494 billion in 2016 (after updating the CBO baseline as described above).
Isn't free Viagra through Medicare for Warren Buffett and Charles Munger an absolute budget priority that needs to continue?
