Yesterday, the Congressional Budget Office (CBO)—the nonpartisan budget scorekeeper for Congress—released its updated budget projections for the next decade. This year's deficit projections are down dramatically. So is the federal budget suddenly in good shape? Far from it. In fact, debt levels are expected to remain unusually high for the foreseeable future.
But that's not all the report tells us. Reason Senior Editor Peter Suderman offers 10 takeaways from the CBO's newest look at the future of federal spending and revenues.