The CBO outlook

The CBO outlook

No one believes that Congress will really be that disciplined. That’s why CBO offers a second vision, in which lawmakers give in to temptation. They extend the tax cuts, patch the AMT, limit bracket creep, increase payments to Medicare docs, allow discretionary spending to rise with GDP, and turn off some of the health legislation offsets after 2020. If policymakers give in to all those temptations, the debt skyrockets, rising from about 60% of GDP today to 185% by 2035.