Throughout the day, Concord will be releasing new items related to today's budget numbers released by the CBO and OMB.
For immediate reactions, check out our Twitter feed.
A press release is in the works (it is up now--JG), but for now a few interesting statistics:
- Our baseline, which is based on the CBO baseline and extends current policy, shows a $14.4 trillion in additional deficits over the next 10 years.
- By 2019, debt held by the public will pass 100% of GDP (102%)
- In 2019, interest on the debt will cost over $1 trillion. At 5% of GDP, that will be more than spending on National defense or domestic discretionary programs.
...in the meantime, check out our live stream of the Fiscal Wake-up Tour in Maine with Senator Susan Collins, set to begin at 12:30pm.
Update: Press release now up.