Fiscal Exposures: The Importance of Looking Beyond the 1st Year

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Fiscal Exposures: The Importance of Looking Beyond the 1st Year

  • Terrorism Risk Insurance expansion to aircraft and aircraft engine manufacturers enacted in 2003

    • Estimate for FY 2004: $3 million income
    • Estimate for 10 years (2004-2013): $47 million cost

  • Health Care Benefit extension to older uniformed services retirees enacted in 2000

    • Estimate for FY 2001: $223 million cost
    • Estimate for 10 years (2001-2010): $40.4 billion cost
    • Financial statement liability: $293 billion

  • Medicare Drug Benefit enacted 2003

    • Estimate for CY 2006: $64.4 billion
    • Estimate for 2006-14: $851 billion
    • Estimate from program inception through 2079: $8.7 trillion in present value terms