1. Defense Saving Our Future Requires Tough Choices Today Americans for Tax Reform - Washington, D.C. February 24, 2010 David M. Walker President and CEO The Peter G. Peterson Foundation and Former Comptroller General of the United States

2. Potential Fiscal Outcomes Under Alternative Simulation Source: Data from the Government Accountability Office, Fall 2009 Alternative Simulation. Compiled by PGPF.

3. Delay Leads to Deeper Spending Cuts To Close the Fiscal Gap Source: Congressional Budget Office, Long-Term Budget Outlook , June 2009. Compiled by PGPF.

4. Delay Leads to Bigger Tax Increases To Close the Fiscal Gap Source: Congressional Budget Office, Long-Term Budget Outlook , June 2009. Calculated by PGPF.

5. U.S. Debt Held by Public Great Depression WWI Note: Projected gross federal debt is higher than public debt. For example, at the end of 2010 projected public debt is roughly 60 percent of GDP compared to projected gross federal debt of roughly 90 percent of GDP. Sources: Data from Office of Management and Budget, Government Accountability Office. Compiled by PGPF.