Director Doug Elmendorf testified on the effects of raising the minimum wage, noting that such an increase would boost family income for many low-wage workers but that some jobs for low-wage workers would probably be eliminated.
Last week, Director Doug Elmendorf participated in two panels at the American Enterprise Institute’s World Forum. Today’s post reviews his talk about health care policy; tomorrow’s post will summarize his comments about immigration policy.
Do public-private partnerships build roads more quickly or at a lower cost? Does private financing increase the funding available for highway projects? Joseph Kile, Assistant Director for Microeconomic Studies, testified on those issues.
CBO’s updated estimates of the effects of the Affordable Care Act’s insurance coverage provisions, which were published in the agency’s recent report on the budget and economic outlook, do not differ much from those released in May 2013.
CBO examines the change in its projections of potential output for the year 2017: The estimate for that year that CBO prepared in February 2014 is about 7 percent lower than what it projected in January 2007.
Director Doug Elmendorf spoke yesterday about the main factors that are causing federal health care spending to grow much faster than the economy. He also summarized CBO’s analysis of a wide range of approaches to address that growth.