Public Service Announcement: What 10 Years Means

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Whenever you hear tax or budget forecasts, they’re (almost) always made over a 10-year timeframe. For example, letting the high-end Bush tax cuts expire will raise about $800 billion over ten years. Last year’s debt ceiling deal reduces discretionary spending by $1.5 trillion over ten years. Etc.

But how big are these numbers? You can’t get a sense for that unless you know how big the budget and the deficit are projected to be over ten years, and those aren’t numbers most of us have at our fingertips. So here they are, courtesy of the CBO:

  • 10-Year Spending: $46 trillion.
  • 10-Year Deficit: $10 trillion

These numbers are based on CBO’s “alternative fiscal scenario,” which accounts for their best guess about what policies are likely to be in place over the next decade. Now you know.

(For the record: The CBO’s alternative fiscal scenario assumes that the Bush tax cuts are extended; the payroll tax holiday expires; the AMT is indexed for inflation after 2011; Medicare payment rates for physicians’ services are held constant at their current level; and that Congress overturns the sequestration cuts that were part of the debt ceiling agreement last year.)

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

payment methods

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