debts outlays
                LONG-RUN BUDGET PROJECTIONS OF 2010 BUDGET POLICY: 1980-2080
                                      (percent of GDP)
                    ------------------------------------------------------------------------
                        1980    1990    2000    2010    2020    2030    2040    2060    2080
                    ------------------------------------------------------------------------
Receipts...........     19.0    18.0    20.9    15.8    19.4    19.9    20.3    21.5    22.6
Outlays............     21.7    21.8    18.4    24.4    22.9    25.9    28.5    33.0    38.2
  Discretionary....     10.1     8.7     6.3     9.6     6.2     6.2     6.2     6.2     6.2
  Mandatory........      9.6     9.9     9.8    13.9    13.8    16.2    17.6    19.1    20.8
    Social Security      4.3     4.3     4.2     4.7     5.1     5.8     5.8     5.7     6.0
    Medicare.......      1.1     1.7     2.0     3.1     4.0     5.6     6.8     8.3     9.6
    Medicaid.......      0.5     0.7     1.2     2.0     2.1     2.4     2.8     3.1     3.3
    Other..........      3.7     3.2     2.4     4.1     2.7     2.4     2.2     2.0     2.0
  Net Interest.....      1.9     3.2     2.3     0.9     2.9     3.5     4.8     7.7    11.2
Surplus/Deficit (-)     -2.7    -3.9     2.4    -8.5    -3.5    -6.0    -8.2   -11.5   -15.5
Primary Surplus/Def     -0.8    -0.6     4.7    -7.6    -0.6    -2.5    -3.5    -3.8    -4.4
Debt Held by Public     26.1    42.0    35.1    67.1    70.7    87.5   118.7   191.0   275.0
CBO Projections for Debt Held by Public:
Extended Baseline..     26.2    42.8    34.5    60.6    56.2    67.1    94.0   167.0   283.0
Alternative Fiscal.     26.2    42.8    34.5    61.1    87.1   142.9   223.2   433.4   716.3

                LONG-RUN BUDGET PROJECTIONS OF 2010 BUDGET POLICY: 1980-2080
                                    (percent of Receipts)
                    ------------------------------------------------------------------------
                        1980    1990    2000    2010    2020    2030    2040    2060    2080
                    ------------------------------------------------------------------------
Receipts...........    100.0   100.0   100.0   100.0   100.0   100.0   100.0   100.0   100.0
Outlays............    114.2   121.1    88.0   154.4   118.0   130.2   140.4   153.5   169.0
  Discretionary....     53.2    48.3    30.1    60.8    32.0    31.2    30.5    28.8    27.4
  Mandatory........     50.5    55.0    46.9    88.0    71.1    81.4    86.7    88.8    92.0
    Social Security     22.6    23.9    20.1    29.7    26.3    29.1    28.6    26.5    26.5
    Medicare.......      5.8     9.4     9.6    19.6    20.6    28.1    33.5    38.6    42.5
    Medicaid.......      2.6     3.9     5.7    12.7    10.8    12.1    13.8    14.4    14.6
    Other..........     19.5    17.8    11.5    25.9    13.9    12.1    10.8     9.3     8.8
  Net Interest.....     10.0    17.8    11.0     5.7    14.9    17.6    23.6    35.8    49.6
Surplus/Deficit (-)    -14.2   -21.7    11.5   -53.8   -18.0   -30.2   -40.4   -53.5   -68.6
Primary Surplus/Def     -4.2    -3.3    22.5   -48.1    -3.1   -12.6   -17.2   -17.7   -19.5
Debt Held by Public    137.4   233.3   167.9   424.7   364.4   439.7   584.7   888.4  1216.8
CBO Projections for Debt Held by Public:
Extended Baseline..    137.9   237.8   165.1   383.5   289.7   337.2   463.1   776.7  1252.2
Alternative Fiscal.    137.9   237.8   165.1   386.7   449.0   718.1  1099.5  2015.8  3169.5

--------------------------------------------------------------------------------------------
            FEDERAL DEBT HELD BY THE PUBLIC AS A PERCENTAGE OF GDP

Calendar        Calendar        Calendar        Calendar        Calendar
   Year    Debt    Year    Debt    Year    Debt    Year    Debt    Year    Debt
------- ------- ------- ------- ------- ------- ------- ------- ------- -------
   1790    29.6    1840     0.3    1890     7.8    1940    42.7    1990    42.8
   1791    29.2    1841     0.8    1891     7.0    1941    43.3    1991    46.1
   1792    28.0    1842     1.2    1892     6.6    1942    62.0    1992    48.3
   1793    24.4    1843     1.5    1893     6.8    1943    77.1    1993    49.5
   1794    21.8    1844     1.0    1894     7.9    1944    95.7    1994    49.2
   1795    18.7    1845     0.7    1895     7.9    1945   112.7    1995    49.2
   1796    16.4    1846     1.2    1896     8.5    1946   102.6    1996    47.9
   1797    16.5    1847     1.7    1897     8.0    1947    90.4    1997    45.3
   1798    16.0    1848     2.2    1898     8.4    1948    79.9    1998    42.3
   1799    15.8    1849     2.5    1899     7.5    1949    81.4    1999    38.6
   1800    15.1    1850     2.3    1900     6.6    1950    73.7    2000    34.5
   1801    13.3    1851     2.4    1901     5.7    1951    63.7    2001    33.3
   1802    13.9    1852     2.0    1902     5.4    1952    61.8    2002    34.7
   1803    14.1    1853     1.4    1903     5.0    1953    60.2    2003    36.6
   1804    13.2    1854     1.1    1904     4.7    1954    60.7    2004    37.4
   1805    10.9    1855     0.9    1905     4.3    1955    55.5    2005    37.5
   1806    10.0    1856     0.7    1906     4.0    1956    51.2    2006    37.0
   1807     9.5    1857     0.9    1907     4.0    1957    48.1    2007    37.9
   1808     8.9    1858     1.2    1908     4.3    1958    49.5    2008    44.0
   1809     7.4    1859     1.5    1909     3.8    1959    47.0
   1810     6.2    1860     1.9    1910     3.7    1960    44.8
   1811     5.7    1861     7.2    1911     3.6    1961    44.6
   1812     6.8    1862    16.8    1912     3.4    1962    42.9
   1813     8.2    1863    23.8    1913     3.2    1963    41.4
   1814     8.5    1864    25.6    1914     3.5    1964    39.0
   1815    10.2    1865    31.0    1915     3.3    1965    36.5
   1816     9.6    1866    31.4    1916     2.7    1966    33.7
   1817     7.8    1867    31.4    1917    13.3    1967    33.4
   1818     7.0    1868    30.5    1918    30.2    1968    31.2
   1819     7.4    1869    30.0    1919    33.4    1969    28.5
   1820     8.3    1870    27.9    1920    27.3    1970    28.2
   1821     9.1    1871    25.7    1921    31.6    1971    27.7
   1822     8.1    1872    24.4    1922    31.1    1972    26.8
   1823     8.3    1873    23.2    1923    25.2    1973    24.8
   1824     7.6    1874    24.0    1924    23.5    1974    24.6
   1825     6.5    1875    23.7    1925    21.6    1975    26.6
   1826     6.3    1876    24.1    1926    19.0    1976    28.1
   1827     5.7    1877    23.9    1927    18.0    1977    27.8
   1828     4.8    1878    25.5    1928    17.0    1978    26.8
   1829     3.9    1879    23.0    1929    14.9    1979    25.7
   1830     3.2    1880    18.4    1930    16.5    1980    26.2
   1831     1.8    1881    16.8    1931    22.3    1981    26.3
   1832     0.5    1882    14.3    1932    34.5    1982    30.0
   1833     0.3    1883    13.5    1933    39.1    1983    33.4
   1834     0.0    1884    13.3    1934    44.0    1984    34.5
   1835     0.0    1885    13.2    1935    42.9    1985    37.1
   1836     0.0    1886    12.4    1936    43.0    1986    39.8
   1837     0.2    1887    11.2    1937    40.1    1987    40.7
   1838     0.6    1888    10.2    1938    42.8    1988    40.9
   1839     0.2    1889     8.6    1939    43.0    1989    41.0

-------------------------------------------------------------------------------
   PROJECTED FEDERAL DEBT HELD BY THE PUBLIC AS A PERCENTAGE OF GDP

              CBO      CBO     U.S.               CBO      CBO     U.S.
         Extended   Alter-   Budget          Extended   Alter-   Budget
    Year Baseline   native  FY 2010     Year Baseline   native  FY 2010
-------- -------- -------- -------- -------- -------- -------- --------
    2009     56.6     56.6     63.9
    2010     60.6     61.1     67.1     2050    127.6    321.3    154.9
    2011     62.0     64.0     67.5     2051    131.2    331.6    158.5
    2012     61.5     65.4     67.8     2052    134.9    342.6    162.1
    2013     60.7     67.0     68.2     2053    138.5    353.0    165.7
    2014     60.1     69.0     68.5     2054    142.4    364.2    169.3
    2015     59.5     71.4     68.9     2055    146.3    375.5    172.9
    2016     59.0     74.1     69.3     2056    150.5    387.1    176.5
    2017     57.9     76.7     69.6     2057    154.3    398.3    180.2
    2018     56.1     78.9     70.0     2058    158.5    410.2    183.8
    2019     56.0     82.8     70.3     2059    162.5    421.7    187.4
    2020     56.2     87.1     70.7     2060    167.0    433.4    191.0
    2021     56.5     91.7     72.4     2061    171.6    446.3    195.2
    2022     57.0     96.4     74.1     2062    176.2    458.8    199.4
    2023     57.5    101.1     75.7     2063    180.5    470.9    203.6
    2024     58.2    106.1     77.4     2064    185.4    483.6    207.8
    2025     59.2    111.5     79.1     2065    190.2    495.6    212.0
    2026     60.3    117.1     80.8     2066    195.3    509.0    216.2
    2027     61.7    123.1     82.5     2067    200.5    522.5    220.4
    2028     63.3    129.4     84.1     2068    206.1    536.5    224.6
    2029     65.1    135.9     85.8     2069    211.6    550.6    228.8
    2030     67.1    142.9     87.5     2070    217.2    564.2    233.0
    2031     69.3    149.9     90.6     2071    223.0    577.7    237.2
    2032     71.5    157.2     93.7     2072    229.0    592.4    241.4
    2033     74.0    164.8     96.9     2073    235.1    607.1    245.6
    2034     76.6    172.7    100.0     2074    241.2    621.2    249.8
    2035     79.3    180.6    103.1     2075    247.5    636.1    254.0
    2036     82.1    188.8    106.2     2076    254.1    651.7    258.2
    2037     84.8    196.9    109.3     2077    260.9    667.0    262.4
    2038     87.9    205.8    112.5     2078    268.4    684.1    266.6
    2039     91.0    214.6    115.6     2079    275.5    700.1    270.8
    2040     94.0    223.2    118.7     2080    283.0    716.3    275.0
    2041     97.2    232.4    122.3     2081    290.6    733.0
    2042    100.4    241.6    125.9     2082    298.5    750.1
    2043    103.6    251.0    129.5     2083    306.3    766.9
    2044    106.8    260.6    133.2
    2045    110.3    270.4    136.8
    2046    113.6    280.2    140.4
    2047    117.1    290.2    144.0
    2048    120.5    299.9    147.6
    2049    124.1    310.7    151.2

-------------------------------------------------------------------------------------------
Source: Budget of the United States Government, FY 2010 , Analytical Perspectives,
        page 192, Table 13-2;
        The Long-Term Budget Outlook, Supplemental Data, Congressional Budget
        Office, tabs F1-3 and F-Box 1-3
Notes: Budget figures are for fiscal year, CBO figures are for calendar year.

===========================================================================================
          ASSUMPTIONS ABOUT FEDERAL SPENDING AND REVENUE SOURCES UNDERLYING CBO'S
                                LONG-TERM BUDGET SCENARIOS

                 Extended-Baseline Scenario           Alternative Fiscal Scenario
                 -----------------------------------  -------------------------------------
                                Assumptions About Spending

Medicare         As scheduled under current law       Physician payment rates grow with the
                                                        Medicare economic index (rather
                                                        than at the lower growth rates
                                                        scheduled under the sustainable
                                                        growth rate mechanism)
Medicaid         As scheduled under current law       As scheduled under current law
Social Security  As scheduled under current law       As scheduled under current law
Other Spending   As projected in CBOs baseline       As projected in CBOs baseline
  Excluding        through 2019, remaining              through 2011, remaining
  Interest         thereafter at the projected 2019     thereafter at the projected 2009
                   level as a share of GDP              level, minus stimulus and related
                                                        spending, as a share of GDP

                             Assumptions About Revenue Sources

Individual       As scheduled under current law       Tax provisions in JGTRRA and EGTRRA
  Income Taxes                                          are extended and AMT parameters are
                                                        indexed for inflation after 2009
Corporate        As scheduled under current law       As scheduled under current law
  Income Taxes
Payroll Taxes    As scheduled under current law       As scheduled under current law
Excise Taxes &   As scheduled under current law       Constant as a share of GDP over the
  Estate and                                             long term
  Gift Taxes
Other Revenues   As scheduled under current law       As scheduled under current law
                   through 2019, remaining constant     through 2019, remaining constant
                   as a share of GDP thereafter         as a share of GDP thereafter

--------------------------------------------------------------------------------------------
Source: The Long-Term Budget Outlook, Congressional Budget Office, page 2, Table 1-1

Notes: The extended-baseline scenario adheres closely to current law, following CBOs
       10-year baseline budget projections from 2009 to 2019 and then extending the
       baseline concept for the rest of the projection period. The alternative fiscal
       scenario deviates from CBOs baseline projections, beginning in 2010, by
       incorporating some changes in policy that are widely expected to occur and that
       policymakers have regularly made in the past.

       GDP = gross domestic product; JGTRRA = Jobs and Growth Tax Relief Reconciliation
       Act of 2003; EGTRRA = Economic Growth and Tax Relief Reconciliation Act of 2001;
       AMT = alternative minimum tax.

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