Where Are We Headed?

Bringing the Federal Deficit under Control

Dialogue with the Fed: Beyond Today's Financial Headlines

Knowing the past, how do we measure all of the future debt that's likely to accumulate? The "fiscal gap" between revenue and outlays will be $1.3 trillion dollars every year between now and 2085 if the nation continues on its present course, Emmons explains. Using Congressional Budget Office scenarios, Emmons demonstrates two scenarios: "extended baseline" and "alternative fiscal."

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