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The Long Term Budget Outlook: An Update 1 (December 1999)

handle is hein.congrec/cbo06581 and id is 1 raw text is: The Long-Term Budget Outlook: An Update THE LONG-TERM BUDGET OUTLOOK: AN UPDATE December 14, 1999 Preface This report provides material that supplements the Congressional Budget Office's (CBO's) The Economic andBudget Outlook: An Update (July 1, 1999). In accordance with CBO's mandate to provide objective and impartial analysis, this document contains no recommendations. Ben Page of CBO's Macroeconomic Analysis Division prepared the memorandum under the direction of Robert Dennis and Douglas Hamilton. David Arnold and Ezra Finkin provided research assistance. Sherry Snyder edited the report, and Leah Mazade proofread it. Dorothy Kornegay and Verlinda Lewis Harris assisted in the production of the report. Kathryn Quattrone prepared the final version for publication, and Laurie Brown prepared the electronic versions for CBO's World Wide Web site (www.cbo.gov). Dan L. Crippen Director December 14, 1999 Contents THE METHODOLOGY FOR THE LONG-TERM BUDGET PROJECTIONS NOTES The figures in this report use shaded vertical bars to indicate periods of recession. Those bars extend from the peak to the trough of the recession. Numbers in the text and tables may not add up to totals because of rounding. Page I

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