CBO periodically issues a compendium of options—this installment presents 79—to inform lawmakers about the budgetary effects of ways to reduce the deficit. The report has both interactive and printable formats.
The deficit this year will be $506 billion, CBO estimates, about $170 billion lower than the deficit in 2013. After a weak first half of this year, CBO expects economic growth to pick up and the unemployment rate to continue to fall.
Why has Medicare's prescription drug program cost less than anticipated when the program was created? How has competition between plan sponsors affected spending? How do Medicare Part D drug prices compare to those in Medicaid?
If current laws remained generally unchanged, federal debt held by the public would exceed 100 percent of GDP by 2039 and would be on an upward path relative to the size of the economy—a trend that could not be sustained indefinitely.
CBO and JCT have lowered their estimates of the net federal cost of the ACA’s insurance coverage provisions—to $1.4 trillion over the next decade, about $100 billion less than estimated in February.
This document is a reprint of Chapter 5 of CBO's publication Options for Reducing the Deficit: 2014 to 2023 (November 2013).