Of the 428 bills CBO reviewed in 2012, 68 contained intergovernmental mandates and 80 contained private-sector mandates. Of the 202 public laws enacted, 16 contain intergovernmental mandates and 23 contain private-sector mandates.
After a recent hearing, CBO was asked by a Member of Congress: “Are there economic conditions under which deficit reduction would have a smaller effect on unemployment and GDP than under current conditions?”
After a recent hearing, CBO was asked by a Member of Congress: “Based on historical trends of revenue and spending, is the primary driver of deficits over the next ten years historically high spending?” Today’s post answers that question.
Following a recent hearing, a Member of Congress asked in a question for the record: “How do today’s discretionary funding levels compare with pre-recession funding levels?” Today's blog post answers that question.
After participating in Congressional hearings, CBO prepares answers to “questions for the record” submitted by the Members of the Committees that held the hearings. Answers to some recent questions will be posted on the CBO Blog this week.
CBO routinely monitors the budgetary effects of enacted legislation to help improve projections of spending and receipts under current law, as well as to improve cost estimates for new legislative proposals.
Director Doug Elmendorf participated in a panel discussion about why the world economy has been performing poorly. He explained that the most costly economic problem in this country today is the large number of people who cannot find jobs.
CBO and JCT’s estimate of the net budgetary impact of the ACA’s insurance coverage provisions has changed little since August 2012, and has changed little, for any given year, since the legislation was being considered in March 2010.
The costs of the Department of Defense’s (DoD’s) budget plans through 2021 would be much higher than the funding permitted under the Budget Control Act’s statutory caps. CBO examined four options to cut back on DoD’s forces and activities.
Joyce Manchester, Chief of CBO’s Long-Term Analysis Unit, discusses her testimony on the Social Security Disability Insurance Program before the Subcommittee on Social Security of the House Committee on Ways and Means.
Past experience indicates that CBO will receive lots of questions about the House’s and Senate’s proposed budget resolutions and about CBO’s “estimates” of their impact. This blog post explains a bit about them.
CBO expects that automatic stabilizers will continue to add significantly to the budget deficit and to support economic activity in 2013 and 2014 but that their effects on the budget and the economy will decline significantly thereafter.
In 2011, the federal government provided $607 billion in grants to state and local governments, accounting for 17 percent of federal outlays and a quarter of spending by states and localities. Nearly half of that amount was for Medicaid.