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  • How Would CBO Analyze the Economic Effects of Immigration Legislation?

    May 2, 2013

    In Congressional deliberations about proposed changes in immigration policies, the impact on the economy may be one significant consideration. CBO has not yet completed an analysis of any immigration legislation that might be considered by the Congress, but in response to a request from Chairman Paul Ryan of the House Budget Committee, CBO wrote a...

  • CBO Releases "Modifying Mortgages Involving Fannie Mae and Freddie Mac: Options for Principal Forgiveness"

    May 01, 2013
     

  • CBO Releases "Statement for the Record on the Status of the Highway Trust Fund"

    April 24, 2013
     

  • Presentation on Innovation Policy

    April 23, 2013

    I spoke this afternoon at a conference on "Innovation Policy and the Economy organized by the National Bureau of Economic Research. My presentation (show below) explored a wide array of possible changes in federal policy that might bolster innovation, including more spending on research and development, increased support for education,...

  • CBO To Release Analysis of the President’s FY 2014 Budget and Updated Baseline Projections in May

    April 22, 2013

    As it does each year, CBO, in conjunction with the staff of the Joint Committee on Taxation (JCT), will analyze the President's proposed budget—in this case the FY 2014 Budget—projecting the revenues that will be collected and the spending that will occur over the next 10 years if the President's proposals are adopted. That analysis will incorporate CBO's most recent...

  • Differences Between the Traditional CPI and the Chained CPI

    April 19, 2013

    Yesterday my colleague Jeffrey Kling testified about issues related to indexing Social Security, other federal programs, and the tax code for inflation. In this post I discuss differences between the traditional consumer price index (CPI) and an alternative index, the chained CPI, that were covered in that testimony.

    Inflation—a...

  • How Does Growth in the Cost of Goods and Services for the Elderly Compare to That for the Overall Population?

    April 19, 2013

    As discussed in earlier blog posts, our colleague Jeffrey Kling testified yesterday about changing the measure used to index Social Security, other federal programs, and the tax code for inflation. Currently, the tax code and many federal spending programs are indexed to one of two versions of the consumer price index (CPI): the...

  • CBO Testifies on Using the Chained CPI to Index Social Security, Other Federal Programs, and the Tax Code for Inflation

    April 18, 2013

    This morning I testified—before the Subcommittee on Social Security of the House Committee on Ways and Means—on changing the measure of inflation used for indexing Social Security, other programs, and the tax code. My testimony updates a CBO report from 2010 on the same topic.

    Social Security law...

  • What Would Be the Effect on the Deficit of Using the Chained CPI to Index Benefit Programs and the Tax Code?

    April 18, 2013

    This morning my colleague Jeffrey Kling testified before the Subcommittee on Social Security of the House Committee on Ways and Means and described the budgetary effects of switching to the chained consumer price index (CPI) to index benefit programs and the tax code. Cost-of-living adjustments (COLAs) for Social Security benefits and...

  • Snapshot of Foster Care, Adoption Assistance, and Guardianship Assistance

    April 18, 2013

    Over the past two decades, the federal government has encouraged states to move more children from foster care to permanent homes through adoption or guardianship. During that time, the number of children in federally subsidized foster care has steadily declined, while the number of children whose adoptive parents receive federal adoption assistance has increased. (...

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