CBO Blog


CBO Releases Report on Federal Efforts to Reduce the Cost of Capturing and Storing Carbon Dioxide June 28, 2012 Coal-powered facilities account for roughly a third of all U.S. emissions of carbon dioxide, and most climate scientists believe that the buildup of carbon dioxide and other greenhouse gases in the atmosphere could have costly consequences.
CBO Releases Report on Fair-Value Estimates of the Cost of Federal Credit Programs in 2013 June 28, 2012 The federal government provides credit assistance to individuals and businesses in the form of direct loans and through guarantees of loans made by private financial institutions. In a report requested by the Chairman and Ranking Member of the Senate Budget Committee, CBO provides an illustrative analysis of the federal government’s costs for those credit programs following two approaches:
Response to the Supreme Court’s Decision Regarding the Affordable Care Act June 28, 2012 CBO is in the process of reviewing the Supreme Court’s decision related to the Affordable Care Act to assess the effect on CBO’s projections of federal spending and revenue under current law. We expect that this assessment will probably take some time.
Breakfast with Reporters June 14, 2012 I was pleased to speak early yesterday with a group of reporters who gather regularly at the invitation of the Christian Science Monitor. (Audio of the event is below.)
CBO Releases Study on the Budgetary and Health Effects of Raising the Excise Tax on Cigarettes June 13, 2012 The federal government spends roughly $1 trillion on health care programs each year, so it is easy to imagine that policies that promote a healthier population could have a significant impact on the federal budget.
Federal Budget Deficit Totaled $845 Billion for the First Eight Months of 2012, CBO Estimates June 7, 2012 The federal government incurred a budget deficit of $845 billion in the first eight months of fiscal year 2012, CBO estimates in its latest Monthly Budget Review—about $80 billion less than the shortfall reported during the same period last year. Without shifts in the timing of certain payments the deficit so far this year would have been about $50 billion smaller than last year’s figure. Revenues were 5 percent higher and outlays slightly lower than they were at this point in 2011.
CBO Testified on the Long-Term Budget Outlook June 6, 2012 I testified this morning to the House Budget Committee about the Long-Term Budget Outlook that CBO released yesterday. I explained that we had assessed that outlook under two very different assumptions about future policies for federal revenues and spending, and that the budgetary and economic outcomes under those two scenarios would be starkly different. I highlighted two specific implications of the long-term projections:
CBO Releases the 2012 Long-Term Budget Outlook June 5, 2012 This morning CBO released the latest in its series of reports on the long-term budget outlook. CBO also published an infographic that highlights the key points of the report. Tomorrow, I will testify on the key findings of the report before the House Budget Committee.