The United States has 14 preferential trade agreements with 20 of its trading partners. In CBO's view, the consensus among economic studies is that, all told, such agreements have had small positive effects on the U.S. economy.
Both CBO and the Social Security Trustees project a shortfall in Social Security finances but they differ in their assessment of its magnitude. This testimony describes that difference and the major factors that contribute to it.
On September 14, 2016, Director Keith Hall testified on CBO’s work since May 2015 and its plans for the future before the Senate Budget Committee.
On August 23, CBO released its most recent budget and economic projections. Because the Congress was out of session at that time, we thought we’d review those budget projections today.
Federal receipts and expenditures in the national income and product accounts (NIPAs) differ in certain ways from revenues and outlays as shown in the federal budget. This report presents CBO’s baseline projections using the NIPA framework.
The federal budget deficit was $622 billion for the first 11 months of fiscal year 2016, CBO estimates—$92 billion more than the shortfall recorded during the same period last year.
CBO’s analysis found that hospitals’ profit margins could decline by 2025. Whether hospitals could respond to those financial pressures in ways that maintain their profitability is unclear, highlighting the need for more research.
CBO compares its economic forecast, as presented in An Update to the Budget and Economic Outlook: 2016 to 2026, with historical experience and discusses why economic growth in coming years is projected to diverge from historical trends.
CBO discusses several uncertainties in the outlook for the U.S. economy, as described in An Update to the Budget and Economic Outlook: 2016 to 2026.
On September 7, 2016, CBO Deputy Director Mark Hadley testified on CBO’s estimates of the budgetary effects of the Center for Medicare & Medicaid Innovation before the Committee on the Budget, U.S. House of Representatives.