Methodology: The Current Course: Deficits As Far As the Eye Can See
 In September 2003, the Center on Budget and Policy Priorities, the Committee for Economic Development, and the Concord Coalition jointly released a report projecting cumulative deficits of cumulative deficits of $5 trillion over the ten year period from 2004-2013. We currently project lower deficits, but the improvement is entirely explained by the fact that, unlike in last fall’s report, we now assume that the bonus depreciation tax cut — that was enacted in 2002 and enlarged in 2003 and is scheduled to expire after 2004 — will not be extended. The Administration did not propose extension of this provision in its FY 2005 Budget. Nonetheless, some policymakers continue to advocate extension, and the fate of bonus depreciation remains unclear. If this provision were extended, we would currently project deficits of $5.0 trillion over the 2004-2013 period and deficits of $5.2 trillion for the ten year period from 2005-2014.