This just about ruined my damned day:
The Congressional Budget Office will release new budget forecasts Tuesday that will put next year’s red ink near $500 billion. Sinai’s own forecast put the figure even higher, as high as $535 billion. Absent any serious change in policy, private sector economists say deficits will remain in that range through the decade, then escalate sharply with the retirement of the baby-boom generation.
“I see absolutely nothing that’s going to bring the deficit back to balance in the foreseeable future,” said David Wyss, chief economist at Standard & Poor’s.
Ev Dirksen is rolling in his grave.