Although we cannot  3  This projection is the alternative fiscal scenario in the Congressional Budget Office (2012), Updated Budget Projections: Fiscal Years 2012 to 2022 (Washington: CBO, March).
BIS central bankers’ speeches  3  expect our economy to grow its way out of federal budget imbalances without significant adjustment in fiscal policies, a more productive economy will ease the tradeoffs faced by fiscal policymakers. Thank you. I would be glad to take your questions. 4  BIS central bankers’ speeches