Contents: the economic outlook (the state of the economy; past mistakes and future risks); the budget outlook (outlook for the deficit or surplus; debt and deficit); the revenue outlook (risks to the revenue estimates); the spending outlook (discretionary spending). Appendices include: the economy's effect on the budget, budget resolution targets and actual outcomes, 1980-1997; the Federal sector of the national income and product accounts, historical budget data, Medicare projections, Medicaid and the state children's health insurance program, and projections of national health expenditures. Charts and tables.

This report examines some of the pressures on the federal budget that are likely to develop over the next 75 years. It is based on the Congressional Budget Office¿s (CBO) 10-year baseline projections of July 2000. Contents: Long-term Pressures on Spending; The Budgetary and Economic Implications of an Aging Population and Rising Health Costs; Conclusion; and Appendix: Details of the Assumptions Underlying CBO¿s Long-term Projections. Graphs and tables.