Congressional Budget Office

Supporting the congress since 1975

Congressional Budget Office

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Budget Projections

CBO’s budget projections under current law—known as baseline projections—give the Congress a benchmark against which to measure the effects of proposed changes spending and taxes. The projections show what would happen to the federal budget if current laws remained in place, that is if no new laws affecting spending and taxes were enacted during the projection period. In addition, the agency regularly shows the effects of adopting alternative policies that have been discussed by the Congress, so that the impact of those alternative policies is clear. CBO also makes long-term budget projections.

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read complete document  (pdf, 173 kb)

Abstract

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This paper reviews the broad contours of total factor productivity (TFP) growth in the U.S. economy since 1870, highlighting the contribution of various technological innovations to the growth of different sectors of the economy. The paper also notes the correlation between TFP growth and improvements in general health and well-being as reflected in changes in life expectancy. Finally, the paper discusses the potential for continued growth in TFP in the future.


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Snapshot of the Highway Trust Fund

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Snapshot of the Highway Trust Fund

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