CBO Data and The Economy

The CBO issued a set of reports on the current state of the economy and the projections looking forward. It is worth a look at the data.

First, the revenue, outlays and deficit. As we see above there is little change from 2010 to 2011. They are still burning at a tremendous rate. Deficit well in $1 T plus.

The above is some details as to the amounts and the percent changes from 2010 to 2011. What is interesting is that Medicare has a 4% change which is amazing given the cost increase in healthcare and the added enrollees. Note that SS payments have increased only 3.5%. The greatest increase is interest on the debt at 17.6% Unemployment benefits dropped 23.8% from year to year.

The conclusion is that it is not Medicare and SS alone but the debt. Just look at the numbers.

Now the CBO also looks at the economy backward and forward. First their GDP projections.

Now the key rates:

Note they assume that we will all be back to normal by 2016, strange the date. But one should see the increase in the Treasury rates as we see the expected unemployment decrease.