^®: CRE Regulatory Action of the Week

CBO Issues Alarming Report on Federal Deficit
The Congressional Budget Office has published a report entitled The 2013 Long-term Budget Outlook. (September 2013). This CBO report "projects that federal debt held by the public would reach 100 percent of GDP in 2038, 25 years from now, even without accounting for the harmful effects that growing debt would have on the economy (see the figure below). Moreover, debt would be on an upward path relative to the size of the economy, a trend that could not be sustained indefinitely."