In the event, of course, a considerable part of the current-policy surplus was used to reduce taxes and to increase spending so that the most recent current-policy projections of the CBO do not anticipate a need for significant nonfederal asset accumulation until well into the next decade.
[2] There are many examples on both sides of the Atlantic: intensifying storms along the coasts of the United States; severe floods and droughts across continental Europe; and wildfires in California Florida, Italy and Spain. Both extreme rainfall and extreme droughts are on the rise in the places where we live and work because they are on the rise all across the globe.