If current laws governing taxes and spending did not change, the condition of the federal budget would worsen considerably over the next three decades. Growth in federal spending would continue to outpace growth in federal revenues, leading to ever larger budget deficits.
Federal spending is projected to rise noticeably in relation to the economy because of growth in spending in Social Security, the major health programs, and interest on the government’s debt. Federal revenues would also increase if current laws remained generally unchanged, but they would increase much more slowly than federal spending.
