CNN Money, July 30, 2009 by Alan J. Auerbach and William G. Gale
http://money.cnn.com/2009/07/30/news/economy/federal_budget_deficit/?postversion=2009073004
Things aren’t as likely to go as well as President Obama hopes. The economy has already performed worse than was assumed in the budget projections, and the projections are based on heroically optimistic assumptions about the political discipline Congress will impose on itself. And, of course, the problem will deepen, continually and inexorably, after 2019, as spending on Medicare, Medicaid and Social Security will grow rapidly.