CBO projects that the annual cost (in 2018 dollars) of replacing the aircraft in the current fleet, essentially one-for-one, would average $15 billion in the 2020s, $23 billion in the 2030s, and $15 billion in the 2040s.
The federal budget deficit was $303 billion for the first two months of fiscal year 2019, CBO estimates, $102 billion more than the deficit recorded during the same period last year.
The share of international affairs funding that was provided outside of agencies’ base budget for ongoing activities—that is, “nonbase” funding—increased markedly from 2014 to 2017, mostly for overseas contingency operations.
On Thursday, December 13, CBO will release Options for Reducing the Deficit: 2019 to 2028. This report will describe 121 policy options that would decrease federal spending or increase federal revenues over the next decade.
This report explains the changes to CBO’s long-term Social Security projections since last year and compares CBO’s projections with those of the Social Security Trustees.