Projecting budgets beyond a year or two is a fools errand as the outcomes are largely reliant on the economic assumptions which underpin them. Economists can barely call data from month to month; why would we suppose that they can call them 10 years into the future?
But since since Congress, the news media and John Q Public often take these projections as gospel, here is the chart of the projected deficits over the next 10-years. Note that the “record” deficits of the Bush years were records in nominal dollars but the Obama years will likely break post-war records in both nominal and percentage of GDP terms.
