CBO Blog


CBO Releases Latest Quarterly Report on ARRA’s Effect on Output and Employment August 23, 2012 As required by law, CBO prepares regular reports on its estimate of the number of jobs created by the American Recovery and Reinvestment Act of 2009 (ARRA), which was enacted in response to significant weakness in the economy. In its latest report issued this afternoon, CBO provides estimates of ARRA’s impact on employment and economic output in the second quarter of calendar year 2012 (April 2012 through June 2012), as well as over the entire period since February 2009.
CBO Releases Its Annual Summer Update of the Budget and Economic Outlook August 22, 2012 Today CBO released An Update to the Budget and Economic Outlook: Fiscal Years 2012 to 2022. The report, issued annually in the late summer, contains the agency’s updated economic and budget projections spanning the period from 2012 through 2022. CBO also published an infographic about the fiscal tightening scheduled to occur in 2013 and its economic consequences. Key aspects of our projections are illustrated in the figures below.
CBO Releases Report on the Potential Budgetary Effects of Immediately Opening Most Federal Lands to Oil and Gas Leasing August 9, 2012 CBO has analyzed a proposal—in a report requested by the Chairman of the House Budget Committee—to immediately open most federal lands to oil and gas leasing.
Federal Budget Deficit Totaled $975 Billion for the First 10 Months of 2012 August 7, 2012 CBO estimates in its latest Monthly Budget Review that the Treasury Department will report a deficit of $975 billion for the first 10 months of fiscal year 2012, $125 billion less than the $1.1 trillion deficit incurred through July 2011. Through the end of July, revenues were about 6 percent higher this year than at the same point last year; outlays were about the same in both years.
CBO To Release Updated Budget and Economic Outlook On August 22 August 2, 2012 The Congressional Budget Office will release The Budget and Economic Outlook: An Update on Wednesday, August 22. That report, which CBO issues annually in the late summer, will contain the agency’s updated economic and budget projections spanning the period from 2012 through 2022. It will be available on CBO’s website at 10:00 a.m. (Details about arrangements for the press may be found on the press page.)