When some smart-a-- FHer starts to crow about shrinking deficits, here's your retort

The new CBO report paints a pretty dire picture of the coming years:

The nonpartisan agency said debt held by the public will reach 78% of GDP by 2024, up from 72% at the end of last year. That high and rising debt “would have serious negative consequences,” the CBO warns, including lessening lawmakers’ abilities to use tax and spending policies to respond to “unexpected challenges” in the economy.

[T]he nonpartisan agency warned that shortfalls would grow after 2015 as health care costs rise with an aging population and interest payments on the federal debt increase.

CBO said annual budget deficits will rise from a low of $469 billion in 2015 to about $1 trillion from 2022 through 2024.

For the 2014 fiscal year, CBO said revenues will increase 9%. The increase is primarily due to tax provisions that expired in 2013, as well as taxes and fees related to President Barack Obama’s health-care law, among other factors.

Discretionary spending, meanwhile, will fall about 2% in 2014. CBO said spending for defense will fall by $30 billion this year.

It's on purpose.