• January 7, 2011

    The federal budget deficit was $371 billion in the first quarter of fiscal year 2011, CBO estimates in its latest Monthly Budget Review, $18 billion less than the shortfall in the same period of fiscal year 2010. Revenues were 9 percent higher than they were a year ago, whereas outlays were only 3 percent higher.

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  • January 7, 2011

    CBO and the staff of the Joint Committee on Taxation (JCT) have not yet developed a detailed estimate of the budgetary impact of H.R. 2, the Repealing the Job-Killing Health Care Law Act, which would repeal the major health care legislation enacted in March 2010.

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  • January 6, 2011

    The House of Representatives is planning to consider a bill (H.R. 2) to repeal the major health care legislation enacted last Marchthat is, the Patient Protection and Affordable Care Act (PPACA) and the provisions of the Health Care and Education Reconciliation Act of 2010 that are related to health care.

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  • December 22, 2010

    During Congressional deliberations on health care legislation during the 111th Congress, CBO prepared numerous analyses and estimates regarding the impact of various proposals on the federal budget and on aspects of health care and health insurance that were of interest to policymakers. That process began in early 2009 and continued past the enactment of the legislation in March of this year.

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  • December 22, 2010

    Fannie Mae and Freddie Mac are government-sponsored enterprises (GSEs)privately owned financial institutions that were chartered by the Congress four decades ago to fulfill a public mission: to provide a stable source of funding for residential mortgages across the country, including loans on housing for low- and moderate-income families.

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  • December 14, 2010

    Recently, the federal government has been recording the largest budget deficits, as a share of gross domestic product (GDP), since the end of World War II. As a result of those deficits, the amount of federal debt held by the public has soared—surpassing $9.0 trillion at the end of fiscal year 2010 and equal to 62 percent of GDP.

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  • December 13, 2010

    Congress recently considered creating a nationwide cap-and-trade program that would limit emissions of greenhouse gases below the levels projected under current law and would allow trading of rights, or allowances, to produce those emissions.

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  • December 10, 2010

    Under current policies, the aging of the U.S. population and increases in health care costs will almost certainly push up federal spending significantly in coming decades relative to the size of the economy.

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  • December 9, 2010

    In 2009, the expenditures of local governments—including counties, cities, towns, school districts, and special districts—equaled 8.7 percent of gross domestic product, and those governments employed just over 9 percent of the labor force.

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  • December 7, 2010

    The federal budget deficit was $283 billion for the first two months of fiscal year 2011, CBO estimates in its latest Monthly Budget Review, $14 billion less than the shortfall recorded through November of last year. Outlays and revenues alike are higher than they were last year at this time, by about 2 percent and 9 percent, respectively.

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