Summary of CBO Budget Outlook for Next 10 Years

Economic Growth Is Projected to Be Relatively Strong This Year and Next and Then to Moderate

GDP Is Projected to Be Greater Than CBO Previously Estimated

Deficits Are Projected to Be Large by Historical Standards

Deficits Are Projected to Be Larger Than CBO Previously Estimated

Debt Held by the Public Is Projected to Approach 100 Percent of GDP Deficits and Debt Would Be Larger If Some Current Policies Were Continued

While the Congressional Budget Office thinks that the economy will grow over the next ten years, debt is a major concern, as it will be at 100% of GDP at that time. It is expected to reach 1 trillion in two years.