CBO’s Projection from 10 Years Ago (in 1999) Showed Federal Revenue
Sufficient to Support Entitlement Spending + Interest Payments Until 2060E — 35 Years Later than Current Projection
CBO’s Projection in the ‘1999 Long-Term Budget Outlook’ on Entitlement Spending + Interest Payments vs. Revenue as % of GDP, 1980 — 2070E
—— Revenue
—o— Entitlement Spending + Net Interest Payments
Total Revenue & Entitlement + Net Interest Payments as % of GDP NO o s
0% | 1980 1990 2000 2010E 2020E 2030E 2040E 2050E 2060E 2070E
Source: Congressional Budget Office Long-Term Budget Outlook (1999). KP Note that there was no alternative fiscal scenario in CBO’s forecast back then. (@)E) www.kpcb.com USA Inc. | Income Statement Drilldown 175
If the Previous Two Slides...
arenta wake-up call,
we don't know what Is...
| (@E) www.kpcb.com USA Inc. | Income Statement Drilldown 176
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