In 2011, households in the top, middle, and bottom quintiles received 52, 14, and 5 percent of the nation's before-tax income, respectively; the shares of federal taxes paid by those households were 69, 9, and 1 percent.
CBO Blog
In fiscal year 2014, which ended on September 30, the federal budget deficit totaled $483 billion—$197 billion less than the shortfall in 2013.
In certain reports and for some major pieces of legislation, CBO analyzes the short- and longer-term effects on the overall economy of changes in federal tax and spending policies. This report explains the methods that CBO uses.
CBO projects that the Department of Defense’s plans would cost an average of $47 billion per year more from 2015 through 2021 than would be provided under the limits established by the Budget Control Act.
In this report, CBO provides background on the methods used to estimate the costs of antifraud legislation.
The federal government ran a budget deficit of $486 billion in fiscal year 2014, CBO estimates—$195 billion less than the shortfall recorded in fiscal year 2013, and the smallest deficit recorded since 2008.
Loan guarantees made in the FHA's single-family mortgage program between 1992 and 2013 are now projected to generate small costs over their lifetimes rather than the significant savings that were originally recorded in the federal budget.
Last week Director Doug Elmendorf spoke at Macroeconomic Advisers’ Washington Policy Seminar and at Cornell University.
CBO is excited to announce the launch of its YouTube channel! We will post videos of Congressional testimonies, press briefings, and other events involving CBO.
The federal government ran a budget deficit of $589 billion for the first 11 months of fiscal year 2014, CBO estimates—$166 billion less than the shortfall recorded over the same period last year.