Deficit Forecasting

I think the numbers in the previous post by Kash would look nice in graphical format. To reiterate, this graph shows the CBO’s projections for the cumulative deficit from 2004 to 2009, as projected in 1/03, 8/03, 1/04, and today. The final bar, labeled “Today (*)” adds $1 trillion to realistically, but conservatively, account for (1) not allowing all of the tax cuts scheduled to sunset in 2005 actually sunset; (2) fixing the alternative minimum tax; and (3) not actually spending $0.00 in Iraq and Afghanistan after 2005.