Here are two charts that give a good perspective on what the Congressional Budget Office thinks may be the likely U.S. budget path, not the baseline that the media focuses on:
President Barack Obama’s State of the Union speech delivered on an idea he’s been telegraphing for weeks: corporate tax reform. And there are hints the changes he will seek could be major. But some companies will lobby hard against losing tax breaks to pay for a rate cut. Turning even sensible proposals into law is no sure thing.