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The 2016 Long-Term Budget Outlook 1 (July 12, 2016)

handle is hein.congrec/cbo3522 and id is 1 raw text is: JULY 2016 The 2016 Long-Term Budget Outlook Provided as a convenience, this screen-friendly version is identical in content to the principal (printer-friendly) version of the report. Any tables, figures, and boxes appear at the end of this document; click the hyperlinked references in the text to view them. Notes The Congressional Budget Office's extended baseline shows the budget's long-term path under most of the same assumptions that the agency uses, in accordance with statutory requirements, when constructing its 1 0-year baseline. In particular, both baselines incorporate the assumptions that current law generally remains the same but that some mandatory programs are extended after their authorizations lapse and that spending for Medicare and Social Security continues as scheduled even if their trust funds are exhausted. Unless otherwise indicated, the years referred to in most of this report are federal fiscal years, which run from October I to September 30 and are designated by the calendar year in which they end. In Chapters 6 and 7, budgetary values, such as the ratio of debt or deficits to gross domestic product, are presented on a fiscal year basis, whereas economic variables, such as gross national product or interest rates, are presented on a calendar year basis. Numbers in the text, tables, and figures may not add up to totals because of rounding. Also, some values are expressed as fractions to indicate numbers rounded to amounts greater than a tenth of a percentage point. As referred to in this report, the Affordable Care Act comprises the Patient Protection and Affordable Care Act and the health care provisions of the Health Care and Education Reconciliation Act of 2010, as affected by subsequent judicial decisions, statutory changes, and administrative actions. Additional data-including the data underlying the figures in this report, supplemental budget projections, and the demographic and economic variables underlying those projections-are posted along with the report on CBO's website.

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