Author : United States. Congressional Budget Office
Release : 2011
Genre : Business & Economics
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Reducing the Deficit - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Reducing the Deficit write by United States. Congressional Budget Office. This book was released on 2011. Reducing the Deficit available in PDF, EPUB and Kindle. Presents more than 100 options for altering federal spending and revenues. Nearly all of the options would reduce federal budget deficits. Federal budget deficits will total $7 trillion over the next decade if current laws remain unchanged, the Congressional Budget Office (CBO) projects. If certain policies that are scheduled to expire under current law are extended instead, deficits may be much larger. Beyond the coming decade, the aging of the U.S. population and rising health care costs will put increasing pressure on the budget. If federal debt continues to expand faster than the economy--as it has since 2007--the growth of people's income will slow, the share of federal spending devoted to paying interest on the debt will rise, and the risk of a fiscal crisis will increase.