REVENUES, OUTLAYS, AND DEFICITS (-) OR SURPLUSES
                             (in Billions of Dollars)                              Total, Total,
          Actual                                                                    2006-  2006-
            2004  2005  2006  2007  2008  2009  2010  2011  2012  2013  2014  2015   2010   2015
           ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- ------ ------
Revenues    1880  2142  2280  2396  2526  2675  2817  3075  3312  3481  3660  3848  12695  30071
Outlays     2292  2473  2595  2721  2860  2997  3134  3293  3390  3561  3726  3905  14306  32180
           ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- ------ ------
Deficit(-)  -412  -331  -314  -324  -335  -321  -317  -218   -78   -80   -66   -57  -1612  -2110
 On-budget  -567  -507  -503  -528  -554  -556  -564  -479  -347  -355  -344  -335  -2706  -4565
 Off-budget  155   176   189   203   219   234   248   261   269   275   278   279   1094   2456
Extend Expiring Tax Provisions
               0     0    -4   -15   -31   -49   -52  -204  -327  -358  -395  -432   -150  -1864
Reform the Alternative Minimum Tax
               0     0   -12   -35   -44   -56   -69   -62   -42   -50   -60   -70   -218   -504

                   DEFICITS UNDER SELECTED POLICY ALTERNATIVES
                            (in Billions of Dollars)                               Total, Total,
          Actual                                                                    2006-  2006-
            2004  2005  2006  2007  2008  2009  2010  2011  2012  2013  2014  2015   2010   2015
           ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- ------ ------
Baseline Deficit(-) or Surplus
            -412  -331  -314  -324  -335  -321  -317  -218   -78   -80   -66   -57  -1612  -2110
 plus Extend Expiring Tax Provisions
            -412  -331  -318  -339  -366  -370  -369  -422  -405  -438  -461  -489  -1762  -3974
 plus Reform the Alternative Minimum Tax
            -412  -331  -330  -374  -410  -426  -438  -484  -447  -488  -521  -559  -1980  -4478
 minus Off-budget surplus
            -567  -507  -519  -577  -629  -660  -686  -745  -716  -763  -799  -838  -3074  -6934
           -------------------------------------------------------------------------------------

                     DEBTS UNDER SELECTED POLICY ALTERNATIVES
                             (in Billions of Dollars)
           Actual
            2004  2005  2006  2007  2008  2009  2010  2011  2012  2013  2014  2015
           ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- -----
Debt Held By the Public
            4296  4621  4943  5281  5630  5964  6292  6520  6605  6691  6762  6820
Gross Federal Debt
            7355  7944  8551  9185  9854 10528 11214 11812 12291 12771 13240 13699
 plus Extend Expiring Tax Provisions
            7355  7944  8555  9204  9904 10627 11364 12166 12972 13809 14673 15563
 plus Reform the Alternative Minimum Tax
            7355  7944  8567  9251  9996 10775 11582 12446 13294 14182 15106 16067
Gross Domestic Product
           11554 12271 12967 13655 14372 15106 15836 16578 17331 18105 18903 19729

                     DEBTS UNDER SELECTED POLICY ALTERNATIVES
                              (as Percentage of GDP)
           Actual
            2004  2005  2006  2007  2008  2009  2010  2011  2012  2013  2014  2015
           ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- -----
Debt Held By the Public
           37.18 37.66 38.12 38.67 39.17 39.48 39.73 39.33 38.11 36.96 35.77 34.57
Gross Federal Debt
           63.66 64.74 65.94 67.26 68.56 69.69 70.81 71.25 70.92 70.54 70.04 69.44
 plus Extend Expiring Tax Provisions
           63.66 64.74 65.98  67.4 68.91 70.35 71.76 73.39 74.85 76.27 77.62 78.88
 plus Reform the Alternative Minimum Tax
           63.66 64.74 66.07 67.75 69.55 71.33 73.14 75.08 76.71 78.33 79.91 81.44
           -----------------------------------------------------------------------
Source: The Budget and Economic Outlook: An Update, August 2005,
        Tables 1-2, 1-5, and 1-6, Congressional Budget Office, online at
        http://www.cbo.gov/ftpdocs/66xx/doc6609/08-15-OutlookUpdate.pdf