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Statement: Robert Greenstein on the Congressional Budget Office’s New Long-Term Budget Forecast
Publication Date: December 2007
Publisher(s): Center on Budget and Policy Priorities (Washington, D.C.)
Author(s): Robert Greenstein
Topic: Economics (Economic policy, planning, and development)
Health (Health care financing)
Type: Report
Abstract:
The new Congressional Budget Office report shows that rising health care costs are the largest driver of the nation’s long-term budget problems. But CBO’s projections also indicate that the costs of making expiring tax cuts--such as those enacted in 2001 and 2003--permanent without paying for them would be the second largest factor, if policymakers follow that course.