To show how variations in economic conditions might affect its budget projections, CBO analyzed how revenues, outlays, and deficits might change if the values of key economic variables differed from those in the agency’s forecast.
CBO describes features of the Medicare and Medicaid improvement funds and how the funds are accounted for in CBO’s baseline and cost estimates.
CBO reports annually on programs whose authorizations of appropriations have already expired or will expire.
In this report, CBO uses various measures to assess the quality of its past projections of federal outlays. The analysis focuses on three fiscal years within each projection period: the budget year, the 6th year, and the 11th year.
CBO will release a report updating its 10-year budget baseline on May 12, and an analysis of the President’s 2024 discretionary proposals on May 18. Also in May, CBO will release an updated report on federal debt and the statutory limit.
Lawmakers created the Troubled Asset Relief Program (TARP) in 2008 to stabilize financial markets. The TARP’s net cost will be $31 billion, CBO estimates—about the same as what the agency last reported in May 2022 and similar to OMB’s latest estimate.
CBO is engaged in many efforts aimed at fostering transparency, such as providing additional information to help people understand the federal budget process and the agency’s role in that process. Today, CBO is publishing two updated budget primers (first released in 2018) as part of those efforts:
CBO estimates the budgetary effects of options for expanding federal Medicaid payments to states for services provided to Medicaid enrollees ages 21 to 64 who are in inpatient facilities known as institutions for mental diseases.
In this report, the latest in a quarterly series, CBO highlights its recent publications and summarizes its work in progress.
The federal budget deficit was $1.1 trillion in the first half of fiscal year 2023, CBO estimates—$430 billion more than the shortfall recorded during the same period last year—and consistent with projections CBO released in February.