Under budgetary paths, but not particular policies, specified in the 2016 budget resolution conference report, total debt would be smaller than in CBO’s baseline. Economic output would be lower in the next few years but higher thereafter.
April 2015
The federal government ran a budget deficit of $430 billion for the first half of fiscal year 2015, CBO estimates—$17 billion more than the shortfall recorded in the same span last year.
I am both honored and thrilled to become the director of the Congressional Budget Office today. I thought I’d take this opportunity to briefly introduce myself. But first, I’d like to thank Doug Elmendorf for his outstanding leadership.