Doug Henwood Questions the CBO's Long-Term Economic Forecast

From Left Business Observer:

The CBO’s deep, unappreciated gloom: Seven decades is a really long time to do forecasting over, since the economics profession isn’t really all that good at forecasting next year. But you do have to think about these things, if only to do some half-rational planning. People who worry about pools of red ink say that countries face the risk of debt crisis when their total debt reaches somewhere around 100% of their GDP. There’s nothing magical about this, but...