By 2012, more than 95 percent of new mortgages were federally guaranteed. CBO expects that percentage to drop sharply in coming years under current law.
March 2013
Joyce Manchester, Chief of CBO’s Long-Term Analysis Unit, discusses her testimony on the Social Security Disability Insurance Program before the Subcommittee on Social Security of the House Committee on Ways and Means.
CBO projects that, starting in 2015, the highway account of the Highway Trust Fund will have insufficient revenues to meet its obligations, resulting in steadily accumulating shortfalls.
Terry Dinan, senior advisor in CBO’s Microeconomic Studies Division, discusses her testimony before the Subcommittee on Energy of the House Committee on Science, Space, and Technology.
Under current law, total funding for child nutrition programs will grow from $20 billion in 2013 to $29 billion in 2023, CBO projects.
Since 2008, during and after the most recent recession, temporary programs have significantly expanded the benefits available to unemployed people.
To expand CBO’s efforts to communicate the analysis we do for the Congress in new and easily accessible ways, CBO will release “snapshots” of the budget outlook.
Past experience indicates that CBO will receive lots of questions about the House’s and Senate’s proposed budget resolutions and about CBO’s “estimates” of their impact. This blog post explains a bit about them.
CBO expects that automatic stabilizers will continue to add significantly to the budget deficit and to support economic activity in 2013 and 2014 but that their effects on the budget and the economy will decline significantly thereafter.
The federal budget deficit was close to $500 billion for the first five months of fiscal year 2013, almost $90 billion less than the shortfall recorded for the same period last year, CBO estimates.