Last month, Members of the House Budget Committee asked CBO how federal policy might affect productivity. This blog post provides additional information on how changes to federal policy might boost innovation and productivity.
CBO Blog
Last month, Members of Congress asked CBO about budgetary and economic issues related to infrastructure and investment. This blog post provides additional information about those issues and highlights some of CBO’s related work.
CBO estimates that the cost of the Navy’s 2017 shipbuilding plan—an average of about $21 billion per year (in 2016 dollars) over 30 years—would be $5 billion higher than the average funding that the Navy has received in recent decades.
This report presents CBO’s baseline projections (through 2027) as well as historical spending data for mandatory means-tested programs (which provide cash payments or other assistance to people with relatively low income or few assets).
CBO estimates that existing plans for U.S. nuclear forces would cost $400 billion over the 2017–2026 period—$52 billion more than CBO’s 2015 estimate for the 2015–2024 period, largely because modernization programs will be ramping up.
View CBO’s updated budget infographics to see how much the federal government spent and took in during fiscal year 2016, as well as broader trends in the budget over the past few decades.
The federal budget deficit was $159 billion for the first four months of fiscal year 2017, CBO estimates—$1 billion less than the shortfall recorded during the same span last year.
In this blog post, CBO explains several features of its assessment of the labor market’s prospects over the next two years.
Interest rates are expected to rise gradually over the next few years but stay below average rates seen in earlier decades. As slack in the economy decreases, CBO expects the Federal Reserve to further reduce its support of economic growth.
CBO expects that a pickup in business and residential investment will lead to faster economic growth in 2017; nevertheless, consumer spending will continue to provide the largest contribution to growth in the short term.