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Automatic Reductions in Government Spending -- aka Sequestration
February 28, 2013e
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How Have CBO’s Projections of Spending for Medicare and Medicaid Changed Since the August 2012 Baseline?
February 21, 2013read more
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CBO Releases "Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from October 2012 Through December 2012"
February 21, 2013CBO estimates that, in the fourth quarter of calendar year 2012, ARRA’s policies raised real (inflation-adjusted) gross domestic product by between 0.1 percent and 0.6 percent compared with what would have occurred otherwise.
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CBO Testifies on the Budget and Economic Outlook
February 15, 2013read more
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CBO Releases "Growth in Means-Tested Programs and Tax Credits for Low-Income Households"
February 11, 2013During the past 40 years, federal spending for major means-tested programs and tax credits for low-income households more than tripled as a share of gross domestic product. In 2012, such spending totaled $588 billion.
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CBO Releases "Monthly Budget Review for January 2013"
February 7, 2013The federal budget deficit was $295 billion for the first four months of fiscal year 2013, $54 billion less than the shortfall recorded for the same period last year, CBO estimates.
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Economic Growth Is Likely to Be Slow in 2013 and Pick Up in Later Years
February 7, 2013read more
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Looming Policy Decisions May Have a Substantial Effect on the Budget Outlook
February 6, 2013read more
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CBO Releases "The Budget and Economic Outlook: Fiscal Years 2013 to 2023"
February 5, 2013Under current law, federal debt will stay at historically high levels relative to the economy, CBO projects. Economic growth will be slow in 2013 but pick up thereafter. Even so, the unemployment rate will be above 7.5 percent through 2014.
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CBO Releases "Macroeconomic Effects of Alternative Budgetary Paths"
February 5, 2013CBO examined three budgetary paths that would increase or reduce budget deficits relative to current law. Through 2023, those paths would result in considerably different trajectories of federal debt and the nation’s output and income.
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