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The 2016 Long-Term Budget Outlook

Paperback - 30 October 2016
Rp 781,000
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If current laws governing taxes and spending did notchange, the United States would face steadily increasingfederal budget deficits and debt over the next 30 years, according to projections by the Congressional BudgetOffice. Federal debt held by the public, which was equalto 39 percent of gross domestic product (GDP) at the endof fiscal year 2008, has already risen to 75 percent of GDPin the wake of a financial crisis and a recession. In CBO'sprojections, that debt rises to 86 percent of GDP in 2026and to 141 percent in 2046-exceeding the historical peakof 106 percent that occurred just after World War II.The prospect of such large debt poses substantial risksfor the nation and presents policymakers with significantchallenges

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