ICITSInternational Conference on Information Theoretic Security
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In contrast, largely be- cause it projects lower baseline revenues in future years, CBO estimates de icits that are $75 billion higher for 2011 and $1.2 trillion greater over the 2011--2020 period than what the Administration anticipates under the
Spending, especially on investments in education, technology, and infrastructure, can actually lead to lower longterm de icits as faster growth and returns on public investment yield higher tax revenues and lower expenditures.
The de icit would fall to about 4 percent of GDP by 2014 but would rise steadily thereafter.
By 2020,the de icit would reach 5.6 percent of GDP, com- pared with 3.0 percent under CBO's baseline projections.
* Over the 2011--2020 period, the cumulative de icit would equal $9.8 trillion (5.2 percent of GDP), under the President's budget, and that's $3.8 trillion more than the cumulative de icit projected in the baseline.