Budget and Economic Outlook: 2015 to 2025

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By Douglas W. Elmendorf (ad)
Year: 2015
Pages: 184
Binding Paperback
ISBN 978-1-4578-6654-4

Product Code: 1457866544

Description

This report shows that the federal budget deficit, which has fallen sharply during the past few years, is projected to hold steady relative to the size of the economy through 2018. Beyond then, the gap between spending and revenues is projected to grow, further increasing federal debt relative to the size of the economy -- which is already historically high. The report predicts that the economy will expand at a solid pace in 2015 and for the next few years -- to the point that the gap between the nationäó»s output and its potential (maximum sustainable) output will be essentially eliminated by the end of 2017. Hence, the unemployment rate will fall a little further, and more people will be encouraged to enter or stay in the labor force. Beyond 2017, real (inflation-adjusted) GDP will grow at a rate notably less than the average growth during the 1980s and 1990s. Figures and tables. This is a print on demand report.

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