cons.are pros andn co >> federal revenues are expected to reach $3 trillion this year, which is below a 40 year average. revenues are inspected to grow at the same pace as the economy, 18.1% of gdp. 2014 wouldnding for 20.5%and five percent -- of gdp. gdp by equal 22.5% of 2024. what is the economic impact of spending that outpaces revenue? does this demonstrate we have a spending problem that is fiscally unsustainable? >> we think the budget is on an unsustainable path. revenues,ing outpaces that extra deficit will lead to an accumulation of federal debt. that crowds out some private capital investment. debt reduces the flexibility to respond and raises the risk of a fiscal crisis down the road. >> the previous baseline budget projection of may 2013, you have raised the estimate between 2014 by $1 trillion. most of the increase result from lower economic growth and lower tax revenue. you describe what economic factors have led to the lower economic growth projections? can you describe what the impact for the federal debt will have on economic growth? debt that wet of project will dim