Documents here.

Not much change in the numbers since the preliminary.

^• Deficits over the next two years. If the President's proposals were enacted, the federal government would record deficits of $1.4 trillion in 2011 and $1.2 trillion in 2012. Those deficits would amount to 9.5 percent and 7.4 percent of gross domestic product (GDP), respectively. (By comparison, the deficit in 2010 totaled 8.9 percent of GDP.)^

^• Deficits over the next 10 years. The deficit under the President's proposals would fall to 4.1 percent of GDP by 2015 but would generally rise thereafter. Compared with CBO’s current-law baseline projections, deficits under the proposals would be higher. By 2021, the deficit would reach 4.9 percent of GDP, compared with 3.1 percent under CBO's baseline projections. Over the 2012–2021 period, deficits under the President's budget would total $9.5 trillion, compared with $6.7 trillion under those baseline projections.^

^• Comparison with the Administration's Estimates. CBO's estimate of the deficit for 2011 under the President's budget is $220 billion less that the Administration's figure, mostly because of lower estimates of outlays. In contrast, largely because of lower projections of revenues, CBO's estimate of cumulative deficits over the 2012–2021 period is $2.3 trillion greater than the Administration’s.^

^• Debt. Under the President’s budget, debt held by the public would grow from $10.4 trillion (69 percent of GDP) at the end of 2011 to $20.8 trillion (87 percent of GDP) at the end of 2021, about $2.8 trillion more than the amount in CBO's baseline projections.^