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Deficits Projected in CBO's Baseline and under an Alternative Fiscal Scenario 1 (May 2013)

handle is hein.congrec/cbo11089 and id is 1 raw text is: This table supplements information in CBO's Updated Budget Projections- Fiscal Years 2013 to 2023 (May 2013). Deficits Projected in CBO's Baseline and Under an Alternative Fiscal Scenario Tota 2014- 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2018 In Billions of Dollars CBO's May 2013 Baseline Revenues Outlays Deficit 2,813 3,455 -642 3,042 3,602 -560 3,399 3,777 -378 3,606 4,038 -432 3,779 4,261 -482 3,943 4,485 -542 4,103 4,752 -648 4,280 5,012 -733 4,494 5,275 -782 4,732 5,620 -889 4,959 5,855 -895 17,769 20,163 -2,394 Debt Held by the Public at the End of the Year 12,036 12,685 13,156 13,666 14,223 14,827 15,537 16,330 17,168 18,118 19,070 n.a. n.a. Alternative Fiscal Scenario 3,862 4,632 -770 4,022 4,934 -912 4,198 5,209 -1,010 Debt Held by the Public at the End of the Year 12,036 12,808 13,477 14,193 14,965 15,798 16,771 17,841 18,973 20,228 21,503 n.a. n.a. As a Percentage of Gross Domestic Product CBO's May 2013 Baseline 18.9 21.3 -2.4 18.8 21.4 -2.6 18.7 21.7 -3.0 18.7 21.9 -3.2 18.8 22.1 -3.3 Debt Held by the Public at the End of the Year 75.1 76.2 74.6 72.7 71.3 70.8 71.0 71.5 72.0 72.9 73.6 n.a. n.a. Alternative Fiscal Scenario Revenues Outlays Deficit 17.5 21.5 -4.0 17.9 22.1 -4.1 18.7 22.0 -3.3 18.7 22.1 -3.4 18.5 22.0 -3.5 18.4 22.1 -3.7 18.4 22.5 -4.2 18.4 22.8 -4.4 18.5 23.0 -4.5 18.7 23.5 -4.8 18.8 23.5 -4.7 18.5 22.1 -3.6 18.5 22.6 -4.1 Debt Held by the Public at the End of the Year Memorandum: Deficit: Alternative Fiscal Scenario Minus CBO's May 2013 Baseline In billions of dollars As a percentage of GDP Policy Alternatives That Affect the Tax Code (Billions of dollars) Effect on revenues Effect on outlays Effect on the deficita 75.1 76.9 76.4 75.5 75.0 75.4 76.6 78.1 79.6 81.4 83.0 n.a. n.a. 0 * -123 -199 -205 -215 -229 -263 -277 -295 -305 -323 -970 -2,433 -0.7 -1.1 -1.1 -1.1 -1.1 -1.2 -1.2 -1.2 -1.2 -1.2 -1.0 -1.1 -54 0 -54 -94 0 -94 -87 0 -87 -83 0 -83 -82 -82 -81 21 -102 -81 21 -102 -84 21 -106 -89 22 -111 -96 22 -117 -400 -400 -831 107 -938 Source: Congressional Budget Office. Note: The alternative fiscal scenario incorporates the assumptions that the automatic spending reductions specified by the Budget Control Act for 2014 through 2021 do not take effect, that all expiring tax provisions are extended, and that Medicare's payment rates for physicians' services (which are now scheduled to be reduced in January 2014) are held constant. Outlays under the alternative fiscal scenario also include the incremental interest costs associated with projected additional borrowing. n.a. = not applicable; GDP = gross domestic product; * = between -$500 million and $500 milllion; ** = between -0.05 percent and zero. a. Negative numbers indicate an increase in the deficit. Revenues Outlays Deficit 2014- 2023 40,336 46,677 -6,340 2,813 3,455 -642 2,988 3,671 -683 3,305 3,881 -577 3,519 4,156 -637 3,696 4,393 -697 Revenues Outlays Deficit 4,409 5,485 -1,076 4,643 5,836 -1,193 4,864 6,082 -1,219 17,369 20,733 -3,364 39,505 48,279 -8,774 17.5 21.5 -4.0 18.3 21.6 -3.4 19.3 21.4 -2.1 19.2 21.5 -2.3 19.0 22.6 -3.6 19.1 22.6 -3.5 18.9 21.5 -2.5 18.9 21.9 -3.0

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