Wednesday, March 14th, 2012 and is filed under News
Yesterday, CBO posted an updated budget projection for the next 10 years. National Journal has the trillion dollar quote that sums up everything you need to know about the 12-page report:
Under the politically more viable alternative scenario – which assumes the extension of all expiring tax provisions other than the current payroll tax cut; a 10-year doc fix that would prevent Medicare payment cuts to providers; the repeal of the sequestrations set by the Budget Control Act; and an alternative minimum tax indexed for inflation after 2011 – deficits would clock in at $10.7 trillion over the 2013-2022 period.
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