On September 29, 2003, the Center on Budget and Policy Priorities joined with the Committee for Economic Development and the Concord Coalition for a press conference on the federal budget outlook. The following joint documents released at this press conference detail the likely size of the mid-term and long-term deficits and discuss their economic and budgetary consequences.
In September 2004, the Center on Budget and Policy Priorities issued updated mid-term deficit projections. These new numbers supersede those from September 2003, but the long-term projections and the economic and budgetary implications of the deficits — which the September 2003 releases discuss in detail — remain much the same. The following report features the updated mid-term deficit projections, as well as a detailed explanation of the methodology.