This is a CBS, I in the world. I'm John Bachelor. The Congressional Budget Office does projections.

Small calculations that mean a great deal in 10 years time.

For example, the deficit at this point in the year 2024 is expected to be according to the CBO 1.6 trillion dollars that's trillion

I don't have a concept of expressing trillion it's a big number. I welcome

Varenique de Regi of the Mercata Center who writes about these

projections and we start with the baseline of 1.6 trillion. Let's just say

start with a trillion, the big number, trillion. By

2034 a good happy outcome is that that is 2.6 trillion. It gains a trillion in a year. The deficit does.

Why? Because of spending, inflation, and profligacy by the Congress.

However, Varenika, a very good evening to you. I learned from you that having read these numbers, they could easily go away because the projections are off. Is that correct? What projections? What is it that the CBO does that we have no confidence in good evening to you?

Good evening John. So the CBO is only is is only allowed to score basically to project number based on what is current law.

So if all of a sudden Congress decide to create another

entitlement spending, well that is not scored into this and in the future the spending

and the deficit will be much higher. But the other thing that

CBO does is it does as good as the job as it can to predict economic growth and to predict productivity of the labor force and to predict

inflation and to predict the path of interest rates, right?

And if it is wrong on any of these, that can have an enormous impact on the trajectory that we are on fiscally.

All right, let me give an example.

Labor force.

The labor force is part of their projection for this deficit number of 2.6 trillion.

You write that if it's just 0.1 number 2.6 trillion.

You write that if it's just 0.1,

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