Roll Call: Latest News on Capitol Hill, Congress, Politics and Elections
September 20, 2014

Chart of the Day

 Chart of the Day

— Chart from the Congressional Budget Office showing the projected long-term budget outlook in two scenarios, via Ezra Klein.

The first option, the “extended baseline scenario,” shows projected debt and deficits if current policy is continued, including the Bush tax cuts and across the board spending cuts from the debt ceiling deal.

The “extended alternative fiscal scenario” shows projected data if Congress decides to delay or remove those policies.

  • Wynstone

    Klein, in his commentary describes the end of the Bush tax cuts as “much higher taxes”, but it just a return to Clinton-era rates and people were not suffering under those.  It takes a bite out of the high end, but the reality is that money is not being used for anything anyway.  If it were land, it could be seized under the doctrine of waste.

  • ASRKC

    Doctrine of waste?  Isn’t the legal doctrine of waste an issue between different ownerships of real property:  someone with a current interest and someone with a longer term interest?  It arises when the current ownership does something which interferes with the rights of the longer term holder.

    Unless you are suggesting that the wealthy do not have absolute right to their property, I do not see how this applies?

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