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Defense
Saving Our Future Requires
Tough Choices TodayAmericans for Tax Reform - Washington, D.C.
February 24, 2010David M. Walker
President and CEOThe Peter G. Peterson Foundation
andFormer Comptroller General of the United States
Potential Fiscal Outcomes Under Alternative Simulation
Source: Data from the Government Accountability Office, Fall 2009 Alternative Simulation. Compiled by PGPF.
Delay Leads to Deeper Spending Cuts To Close the Fiscal Gap
Source: Congressional Budget Office, Long-Term Budget Outlook, June 2009. Compiled by PGPF.
Delay Leads to Bigger Tax IncreasesTo Close the Fiscal Gap
Source: Congressional Budget Office, Long-Term Budget Outlook, June 2009. Calculated by PGPF.
U.S. Debt Held by Public
Great Depression
WWI
Note: Projected gross federal debt is higher than public debt. For example, at the end of 2010 projected public debt is roughly 60 percent of GDP compared to projected gross federal debt of roughly 90 percent of GDP. Sources: Data from Office of Management and Budget, Government Accountability Office. Compiled by PGPF.