Those CBO Interest Rate and Deficit Projections

Back in January, when the Congressional Budget Office (CBO) issued its annual Budget and Economic Outlook, the Washington Post and other deficit hawk types seized on the projections of rising deficits and debt to GDP ratios in the latter part of its 10-year projections. There was another round of cries for deficit reduction, with cuts to Social Security and Medicare again holding center stage.

Some of us took the opportunity to point out that the projections of rising deficits hinged almost e...