Can Someone Teach Steve Rattner How CBO Does Its Projections?

Steve Rattner is upset that Congress isn't voting to cut Social Security and Medicare, complaining about this fact in a NYT column this morning. Much of the problem seems to stem from Rattner's misunderstanding of budget projections and his failure to pay attention to recent developments in health care spending.

At one point Rattner gives us the distressing news that a do nothing scenario will give us a debt to GDP ratio by 2035 of 99 percent (@ 19 percentage points less than the post World W...