CBO projects that DoD’s plans will cost 3.5 percent more to execute through 2018 than DoD estimates. Moreover, the costs of DoD’s plans for 2014 through 2021 would greatly exceed the limits established by the Budget Control Act.
CBO estimates that the costs of DoD’s base-budget plans for 2014 through 2021 would average about $90 billion a year more than the funding that would be provided to DoD under the limits set by the Budget Control Act.
Under current law, after February 7, 2014, the Treasury would have no room to borrow and would need to use its so-called extraordinary measures—which could be exhausted as early as March but might last until May or early June.
The Federal Pell Grant Program was created to improve the access of low-income students to postsecondary education. CBO analyst Nabeel Alsalam discusses spending on the program and possible policy changes.
CBO periodically issues a compendium of options—this installment presents more than 100—to inform lawmakers about the budgetary effects of ways to reduce the deficit. The report will soon be available in an interactive, searchable format.
CBO analyzes the distribution of most federal spending—including transfers such as Social Security benefits—and almost all federal revenues among U.S. households in 2006. Results are provided by type of household and by income group.