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Def i cits Projected in CBO’s Baseline and August 2012 http://go.usa.gov/7QYUnder an Alternative Fiscal Scenario(Percentage of GDP) 8 7 6 5 Additional Debt Service 4 Prevent Spending Cuts 3 Extend Tax Policies 2 1 Baseline 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022Deficits under CBO’s current-law baseline projection average about 1 percent of GDP over the 2013–2022 period. By comparison, underan alternative scenario, in which some changes specified in current law would not occur and many tax and spending policies that havebeen in effect in recent years would continue instead, deficits over that period would average about 5 percent of GDP. C ONGRESSIONAL B UDGET O FFICE