In fiscal years 2014-2015, the deficit does indeed fall; it’s expected to drop another $36 billion next year. In 2016, though, things change: from then on, the deficit skyrockets, growing by an average of $66 billion a year.
Over the next ten years, just the interest on the debt will grow to 1.3% of GDP, nearly quadrupling.
The reason? While federal revenues are expected to grow in sync with GDP, spending growth is projected to far outpace GDP growth.
via This is why the CBO’s deficit report is bad news
