Source: Independent Institute
by Craig Eyermann
“The CBO’s Long-Term Budget Outlook: 2025 to 2055 provides a thirty year window of alarming projections for the federal government’s deficits and debt. The most important thing to know about the CBO’s projections is they’re based on current law. They assume every tax cut with an expiration date expires. They assume there will never be new spending for anything we do not already know about today. They assume there will never be another recession that tanks revenues while blowing up spending. They assume Washington D.C.’s politicians and bureaucrats will be able to continue doing business exactly the way they have been. And they will continue doing business that way forever. This means the CBO’s projections are very much like a best-case scenario. But the long-term budget outlook is dismal even when viewed through the rosiest of rosy-colored glasses.” (04/07/25)