[ExI] Debt tsunami

[Rafal Smigrodzki]

On Mon, May 4, 2009 at 12:13 AM, Damien Broderick <thespike at satx.rr.com> wrote:
> At 11:43 PM 5/3/2009 -0400, Rafal wrote:
>
>> http://www.cbo.gov/ftpdocs/100xx/doc10014/Chapter1.5.1.shtml#1091929
>>
>> Please direct your attention especially figure 1-2.
>
> This sort of thing?
>
> <Revenues in CBO’s baseline grow from a low of 15.5 per­cent of GDP this
> year to 19.9 percent in 2013 and remain at roughly 20 percent of GDP
> thereafter. Much of that increase results from the growing impact of the
> alter­native minimum tax (AMT) and, even more significant, the scheduled
> expiration in December 2010 of provisions originally enacted in the Economic
> Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) and the Jobs and
> Growth Tax Relief Reconciliation Act of 2003 (JGTRRA), as well as tax
> provisions enacted in ARRA.
>
> As a percent age of GDP, outlays in the baseline peak in 2009 at 27.4
> percent of GDP and then fall to 21.7 percent in 2012. They remain roughly
> constant thereafter, at about 22 percent of GDP from 2013 to 2019.>
>
### Damien, did you read what they mean by "baseline" in this context?
Baseline is roughly what would have happened if Obama didn't exist.
The predictions about Obama's impact are all referred to as
"Presiden't" budget, spending or whatever. They are hair-rising scary,
and he's hardly begun.

Rafal