This report summarizes CBO’s estimates of the budgetary impact of laws enacted in the 114th Congress, which spanned calendar years 2015 and 2016. Laws enacted in 2015 will add an estimated $663 billion to deficits over the 2015–2025 period.
If current laws remained generally unchanged, the United States would face steadily increasing federal budget deficits and debt over the next 30 years—reaching the highest level of debt relative to GDP ever experienced in this country.
Members of Congress recently asked CBO’s Director how the agency analyzes potential changes to immigration policy. This blog post highlights the factors CBO considers when estimating the budgetary and economic effects of such policies.
The 2017 Long-Term Budget Outlook will be available on CBO’s website at 10:00 a.m. on the day of release.
At a February hearing, Members of Congress asked CBO’s Director a number of questions about tax expenditures. This blog post provides additional information about the size of tax expenditures and their effects.
Last month, Members of Congress asked CBO a number of questions about how federal taxes and benefits affect people’s incentive to work. This blog post provides additional information on that topic.
While testifying at Congressional hearings last month about CBO’s outlook for the budget and economy, CBO’s Director was asked a number of questions about policies that could reduce budget deficits.
Last month, Members of Congress asked CBO a number of questions about potential changes to Social Security. This blog post provides information about CBO’s projections and some options for changing Social Security.
Last month, Members of the House Budget Committee asked CBO how federal policy might affect productivity. This blog post provides additional information on how changes to federal policy might boost innovation and productivity.
Last month, Members of Congress asked CBO about budgetary and economic issues related to infrastructure and investment. This blog post provides additional information about those issues and highlights some of CBO’s related work.