CBO: Doing Nothing On The Budget Leads To Primary Balance In 2017

The Washington Times’ Stephen Dinan notes that “the Congressional Budget Office, in its latest long-term budget outlook, released Wednesday, said that [a] do-nothing scenario would leave the government’s ledger in primary balance by 2017.” (Primary balance means the only deficit is due to interest payments on the debt.) This means, as the Washington Post’s Ezra Klein explained, that “the deficit only explodes if the next few congresses vote to detonate it.” Doing nothing would mean that the Bush tax cuts expire, the Alternative Minimum Tax is allowed to take effect, and the cost controls in the Affordable Care Act are implemented, among other things.