During the 2011-2015 period, the difference between the wages, benefits, and total compensation of federal civilian employees and those of similar private-sector employees varied widely depending on the employees’ educational attainment.
CBO estimates that construction costs to build a fleet of 355 ships would average $26.6 billion (in 2017 dollars) per year over the next 30 years, which is 60 percent more than what the Navy has spent on average over the past 30 years.
CBO was asked at a recent hearing how deficit projections would be affected if individual economic variables differed from what the agency expects. This blog post discusses how lower rates of labor force participation would affect the deficit.
The federal budget deficit was $522 billion for the first six months of fiscal year 2017, the Congressional Budget Office estimates—$63 billion more than the shortfall recorded during the same span last year. But that result was affected by shifts in the timing of certain payments that otherwise would have been due on a weekend. If not for those shifts, the deficit for the first six months of fiscal year 2017 would have been $61 billion larger than that recorded for the same period last year.
Last year CBO launched an online tool that allows users to search for intergovernmental and private-sector mandates that the agency has identified in bills and public laws. Data for calendar year 2016 are now available.
The Obama Administration’s final defense plan called for base-budget funding averaging $540 billion (in 2017 dollars) from 2017 through 2021, but it would have reached almost $600 billion per year by 2032 under DoD’s cost assumptions.