Capitol Hill 2011 - jef1000

Jeff Malet Photography

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Douglas Elmendorf, the director of the Congressional Budget Office testified on the budget and economic outlook before the Senate Budget Committee on Thursday January 27, 2011 on Capitol Hill in Washington DC. Elmendorf suggested that an overhauled tax code could be more effective at raising revenue, but the economy could not grow the government out of its current debts. Elmendorf said that it is nearly impossible to predict a debt crisis because it depends on a mix of economic trends and events as well as market perceptions of these circumstances. The CBO estimated that week that the deficit for fiscal year 2011 would grow to $1.5 trillion. (Photo by Jeff Malet)

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