Today CBO released the latest in a series of statutory reports on transactions undertaken as part of the Troubled Asset Relief Program (TARP)—the program established in October 2008, during the financial crisis, to enable the Department of the Treasury to promote stability in financial markets through the purchase and guarantee of “
The federal government's finances are pretty complicated and not always easy to understand,and most of CBO's reports about the budget outlook are fairly lengthy and detailed. In fact, one of the questions we're most frequently asked is how much the government spends and takes in each year.
The federal budget deficit was close to $240 billion for the first two months of fiscal year
The centerpiece of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (Medicare Modernization Act) was the creation of Medicare Part D, a subsidized pharmaceutical benefit that went into effect in 2006. That additional coverage constituted the most substantial expansion of the Medicare program since its inception in 1965.
The U.S. Navy’s fleet numbers 284 ships, including 29 amphibious warfare ships that are designed primarily to carry marines and their equipment into combat but also to perform peacetime missions.
Last month, the Treasury Department reported that the federal government incurred a budget deficit of $1.3 trillion for fiscal year 2011, almost identical to the deficit it incurred in 2010.
CBO has a panel of economic advisers consisting of widely recognized experts on a range of issues. Members of the panel have a variety of backgrounds, areas of knowledge, and experience. We host periodic meetings of the advisers at our office and solicit their views between meetings via e-mail exchanges and telephone calls.