CBO Blog

  • February 7, 2011

    The federal government incurred a budget deficit of $424 billion in the first four months of fiscal year 2011, CBO estimates in its latest Monthly Budget Review, slightly less than the shortfall recorded in the same period last year.

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  • January 26, 2011

    The United States faces daunting economic and budgetary challenges. The economy has struggled to recover from the recent recession: The pace of growth in output has been anemic compared with that during most other recoveries and the unemployment rate has remained quite high.

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  • January 20, 2011

    The nation’s network of highways plays a vital role in the United States. In 2007, the public sector spent $146 billion to build, operate, and maintain highways in the United States. About three-quarters of that total was provided by state and local governments.

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  • January 20, 2011

    To attract and retain the personnel it needs, the federal government must offer competitive compensation packages. For the military to recruit and retain qualified personnel, the compensation system must adequately reward service members for their training and skills as well as for the rigors of military life, particularly the prospect of wartime deployment.

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  • January 14, 2011

    The recent public discussion about the potential effects of repealing the major health care legislation enacted last March has revealed some misunderstandings about CBO’s procedures in analyzing legislation. Let me try to explain a bit.

    CBO’s estimates of the budgetary impact of legislation can take a number of different forms:

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  • January 9, 2011

    I participated this morning in a panel discussion about budget deficits at the annual meeting of the American Economic Association. The panelists were asked to talk about what should, or will, or might, happen regarding the fiscal imbalance and the likely economic impact. Of course, CBO doesn’t make policy recommendations, so I couldn’t talk about what should happen.

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  • 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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