Congressional Budget Office

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Economic Stimulus

During periods of weak economic activity, the Congress often considers legislation aimed at boosting output and employment. The policies considered include providing funds to states and localities, supporting people in need, purchasing goods and services, providing temporary tax relief for individuals and businesses, and making changes in government regulatory policies. CBO analyzes the probable effects of such policies.

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  • Assessing the Short-Term Effects on Output of Changes in Federal Fiscal Policies: Working Paper 2012-08

    May 25, 2012
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Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from January 2012 Through March 2012

report

May 25, 2012


monthly archive

  • May 2013 (2)
  • April 2013 (14)
  • March 2013 (22)
  • February 2013 (10)
  • January 2013 (11)
  • December 2012 (4)
  • November 2012 (10)
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CBO Releases Latest Quarterly Report on ARRA’s Effect on Output and Employment

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May 25, 2012


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related publications


  • Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from January 2012 Through March 2012

    May 25, 2012
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Assessing the Short-Term Effects on Output of Changes in Federal Fiscal Policies: Working Paper 2012-08

working paper

May 25, 2012

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Abstract

Changes in federal fiscal policies can have both short-term and long-term effects on output. The Congressional Budget Office’s analysis of the short-term effects focuses on the impact on the demand for goods and services. That impact can be decomposed into direct effects and indirect effects: Direct effects consist of changes in purchases of goods and services by federal agencies and by the people and organizations who are recipients of federal payments or payers of federal taxes; indirect effects enhance or offset the direct effects. The indirect effects can be summarized by a demand multiplier, defined as the total change in gross domestic product per dollar of direct effect on demand. This paper presents the ranges of demand multipliers that CBO uses in its analyses and reviews evidence on the size of those multipliers.

monthly archive

  • May 2013 (2)
  • April 2013 (14)
  • March 2013 (22)
  • February 2013 (10)
  • January 2013 (11)
  • December 2012 (4)
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  • October 2012 (4)
  • September 2012 (6)
  • August 2012 (5)
  • July 2012 (11)
  • June 2012 (8)
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CBO Analyzes Effects of Fiscal Restraint Scheduled Under Current Law

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May 22, 2012


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Economic Effects of Reducing the Fiscal Restraint That Is Scheduled to Occur in 2013

report

May 22, 2012

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H.R. 1838, Swaps Bailout Prevention Act

cost estimate

May 4, 2012

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monthly archive

  • May 2013 (2)
  • April 2013 (14)
  • March 2013 (22)
  • February 2013 (10)
  • January 2013 (11)
  • December 2012 (4)
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CBO's Estimates of ARRA's Economic Impact

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February 22, 2012


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Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from October 2011 Through December 2011

report

February 22, 2012

read complete document  (pdf, 657 kb)

monthly archive

  • May 2013 (2)
  • April 2013 (14)
  • March 2013 (22)
  • February 2013 (10)
  • January 2013 (11)
  • December 2012 (4)
  • November 2012 (10)
  • October 2012 (4)
  • September 2012 (6)
  • August 2012 (5)
  • July 2012 (11)
  • June 2012 (8)
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The United States is Experiencing the Longest Stretch of High Unemployment Since the Great Depression

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February 16, 2012


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Deficit or Surplus With and Without Automatic Stabilizers—2012

data or technical information

January 31, 2012

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