The deficit under current law is projected to be larger this year, but smaller over the 2017–2026 period, than CBO projected in March. Since January, CBO has reduced its projections of GDP growth and interest rates over the coming decade.
From 1989 to 2013, family wealth grew at significantly different rates for different segments of the U.S. population, and the distribution among the nation’s families was more unequal in 2013 than it had been in 1989.
In a report required by law, CBO provides estimates of the caps on discretionary funding for each fiscal year through 2021. CBO concludes that the discretionary appropriations provided to date for 2016 do not exceed the caps for this year.
The report will be available on CBO's website at 2:00 p.m.
The federal budget deficit was $514 billion for the first 10 months of fiscal year 2016, CBO estimates—$49 billion more than the shortfall recorded during the same period last year.
In this report, CBO and the staff of the Joint Committee on Taxation examine the distribution of capital assets and net capital gains and losses in 2010 by type of asset and by the income and age of the asset holder.
CBO published its 2016 Long-Term Budget Outlook in July, describing the agency’s projections of federal spending and revenues over the next 30 years. This blog post focuses on the projected growth of net interest costs.
The pensions of some 10 million people are insured by the Pension Benefit Guaranty Corporation’s multiemployer program. CBO projects future claims on the program and losses to its beneficiaries and analyzes potential policy changes.