The document summarizes projections from the Congressional Budget Office's May 2022 report. It includes 8 slides covering topics like: - Federal debt is projected to reach 110% of GDP by 2032, the highest ever, and 185% by 2052 due to growing deficits. - Deficits are projected to initially shrink but then rise in the second half of the period, driven by increased costs of healthcare and interest on debt. - The 10-year deficit projection increased $2.4 trillion since July 2021 mostly due to legislative changes, though revenue increases offset some economic factors. - There is uncertainty around deficit projections, with a 2/3 chance the 2027 deficit could be 2.4% of GDP