CBO’s Projection from 10 Years Ago (in 1999) Showed Federal Revenue
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CBO’s Projection from 10 Years Ago (in 1999) Showed Federal Revenue
Sufficient to Support Entitlement Spending + Interest Payments Until 2060E
— 35 Years Later than Current Projection
CBO’s Projection in the ‘1999 Long-Term Budget Outlook’ on
Entitlement Spending + Interest Payments vs. Revenue as % of GDP, 1980 — 2070E
—— Revenue
—o— Entitlement Spending + Net Interest Payments
Total Revenue & Entitlement + Net Interest
Payments as % of GDP
NO
o
s
0% |
1980 1990 2000 2010E 2020E 2030E 2040E 2050E 2060E 2070E
Source: Congressional Budget Office Long-Term Budget Outlook (1999).
KP Note that there was no alternative fiscal scenario in CBO’s forecast back then.
(@)E) www.kpcb.com USA Inc. | Income Statement Drilldown 175
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(@E) www.kpcb.com USA Inc. | Income Statement Drilldown 176
HOUSE_OVERSIGHT_020929
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