CBO estimates the costs of federal credit programs in 2023 in two ways—following procedures prescribed by the Federal Credit Reform Act (FCRA) and using a fair-value approach, which measures the market value of the government’s obligations.
CBO Blog
CBO analyzes trends in wildfire activity; considers the effects of wildfires on the federal budget, the environment, people’s health, and the economy; and reviews forest-management practices meant to reduce fire-related disasters.
CBO analyzes the effects of work requirements and work supports on employment and income of participants in Temporary Assistance for Needy Families, the Supplemental Nutrition Assistance Program, and Medicaid.
To show how variations in economic conditions might affect its budget projections, CBO analyzed how the budget might change if values of four key economic variables differed from those in the agency’s forecast.
The federal budget deficit was $423 billion in the first eight months of fiscal year 2022, CBO estimates. That amount is about one-fifth of the $2.1 trillion shortfall recorded during the same period in 2021.
CBO Director Phillip Swagel spoke about CBO’s work and processes to a group of Congressional staff at a conference organized by the Congressional Institute.
CBO Director Phillip Swagel highlights the main findings of The Budget and Economic Outlook: 2022 to 2032.
In CBO’s projections, assuming that current laws generally remain unchanged, the federal deficit totals $1.0 trillion in fiscal year 2022 and averages $1.6 trillion per year from 2023 to 2032. Real GDP grows by 3.1 percent this year.
The enhanced tool lets users change the defense budget to see the possible effects on military forces, or add or subtract major units to see the effects on the budget, or explore a mix of those approaches. It includes a how-to-use tutorial.
CBO and the staff of the Joint Committee on Taxation estimate that lowering the age of Medicare eligibility to 60 would increase federal budget deficits, change primary sources of health insurance, and increase the number of people insured.