TABLE F-3 Projected Federal Deficits, Debt, and Interest Payments Under the Committee’s Four Scenarios, as Percentages of GDP

Selected Years

Deficit

Debt

Interest Payments

2008a

3.2

40.8

1.8

2009

12.1

55.0

1.2

2010

8.5

60.9

1.2

2011

6.5

64.8

1.4

2012

3.2

65.4

1.7

2013

2.9

65.4

2.1

2014

2.6

65.4

2.4

2015

2.2

65.2

2.6

2016

2.1

64.9

2.7

2017

1.7

64.2

2.8

2018

1.4

61.5

2.9

2019

1.8

61.0

2.9

2020

1.9

60.6

2.9

2021

2.0

60.4

2.8

2022

1.9

60.0

2.7

2023

2.2

60.0

2.6

2024

2.2

60.0

2.6

2025

2.2

60.0

2.5

2030

2.2

60.0

2.5

2035

2.3

60.0

2.5

2040

2.3

60.0

2.5

2045

2.2

60.0

2.5

2050

2.3

60.0

2.5

2055

2.3

60.0

2.5

2060

2.2

60.0

2.5

2065

2.3

60.0

2.6

2070

2.3

60.0

2.6

2075

2.3

60.0

2.6

2080

2.2

60.0

2.6

2083

2.3

60.0

2.6

aActual spending.

nonbaseline trajectories are used. The difference is that the changes start 5 or 10 years later, that is, in 2017 or 2022. The nonbaseline revenue paths are similarly delayed 5 or 10 years. There are two ways these elements can be combined; for example, for 5-year delays (also see Chapter 9):

  1. the revenue path necessary to attain the debt-to-GDP target for a 5-year delay of each spending trajectory, and

  2. to stay within a given delayed revenue trajectory and attain the debt-to-GDP target, combinations of delayed spending paths.



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