Скачать или смотреть Sessions: CBO's New Long-Term Budget Outlook 'A Call To Action'

WASHINGTON, June 7--Last night on the Senate floor, Sen. Sessions discussed CBO's new "Long-Term Budget Outlook," a yearly report that analyzes the financial future of the United States beyond the traditional 10-year budget window. The result, Sessions said, is "not a document that should give us comfort, but should be a call to action, really, as to what we need to do about the financial future of our country."

Among CBO's findings (all figures adjusted for inflation to 2012 levels):
• Over the next 20 years, high debt levels will lower the U.S.' cumulative economic output by roughly $21 trillion.

• By 2037, the federal government will spend $2.7 trillion per year in interest payments alone, representing more than a quarter of our entire budget that year and greater than the total federal budget in 2003.

• Each family's share of the federal debt will climb to $382,000 over the next 25 years, an additional $287,000 compared with today's levels.

• By 2025, mandatory health care spending, Social Security, and interest costs will consume 100 percent of revenues.

• CBO also warned that "growing debt... would increase the probability of a sudden fiscal crisis, during which investors would lose confidence in the government's ability to manage its budget and the government would thereby lose its ability to borrow at affordable rates."