CBO plans to release its updated 10-year baseline projections of federal spending, revenues, and budget deficits on Monday, April 14.
CBO Blog
The federal government ran a budget deficit of $413 billion for the first six months of fiscal year 2014, CBO estimates—$187 billion less than the shortfall recorded in the same span last year.
Under budgetary paths, but not particular policies, specified by Chairman Ryan, total deficits and debt would be smaller than under CBO’s extended baseline. Economic output would be lower in the next few years but higher thereafter.
Past experience indicates that CBO will receive lots of questions about the House's proposed budget resolution and CBO's "estimates" of its impact. This post explains a bit about such resolutions.
Of the 437 bills CBO reviewed in 2013, 39 contained intergovernmental mandates and 53 contained private-sector mandates. Of the 72 public laws enacted in 2013, 3 contain intergovernmental mandates and 8 contain private-sector mandates.
Director Doug Elmendorf recently participated in The Atlantic’s Economy Summit and spoke to the Prosperity Caucus on CBO’s outlook for the economy.
Why was there such an unprecedented rise in the rate of long-term unemployment during and after the recession? What are some options for reducing that rate? CBO analyst Will Carrington discussed those issues during a recent presentation.
Director Doug Elmendorf testified on the effects of raising the minimum wage, noting that such an increase would boost family income for many low-wage workers but that some jobs for low-wage workers would probably be eliminated.
Director Doug Elmendorf testified before the Senate Appropriations Subcommittee on the Legislative Branch.
Director Doug Elmendorf summarizes comments about immigration policy that he made last week at the American Enterprise Institute’s World Forum.