This post is a follow-up to the second in a series of posts on the Budget Control Act.
A couple weeks ago, we took a look at the effects that the recently enacted Budget Control Act might have on the debt. However, graphically illustrating the effects of the law over only ten years fails to convey how little was done to combat the long-term debt problem. We have since extended our projections out to the second decade. The graph below makes clear that unless the Joint Select Committee on Deficit Reduction substantially exceeds its mandate, America’s debt will remain on an unsustainable path.
To view and share a larger version of the graph below, click here.