In a statement, CBO Director Phillip Swagel thanked Speaker McCarthy and President pro tempore Murray for appointing him to a second term and said he is excited to continue the important work that he has been part of these past four years.
July 2023
CBO analyzes funding for special and incentive pay for active-duty service members in the Army, Navy, Air Force, and Marine Corps and explores how those types of pay have been used to address personnel shortfalls.
David E. Mosher, CBO's Director of National Security Analysis, testifies before the Senate Armed Services Committee's Subcommittee on Personnel.
In CBO’s latest projections, economic growth slows and then picks up over the 2023–2025 period. That initial slowdown in economic growth drives up unemployment. Inflation continues to gradually decline.
To enhance its work for the Congress, CBO is looking for new research on how changes in federal policy affect different households, and how taxes affect the way businesses are legally structured.
To enhance its work for the Congress, CBO is looking for new research on the implications of the military’s use of in-kind compensation, and on the causes and future evolution of sector-specific inflation.
To enhance its work for the Congress, CBO is looking for new research that illuminates the factors driving trends in productivity growth and interest rates on Treasury securities, and the effects of fiscal policy on broad economic outcomes.
CBO analyzed eight scenarios that differ from those underlying the agency’s long-term baseline budget projections—six that vary economic outcomes, one that varies budgetary outcomes, and one that limits Social Security benefits.
To enhance its work for the Congress, CBO is looking for new research that illuminates the effects of immigration on productivity and the factors that cause them to vary, and the effects of changes in federal funding for child care.
CBO has estimated what the economic and budgetary effects would be if the discretionary funding caps enacted in June 2023 had been those required under H.R. 2811, the Limit, Save, Grow Act of 2023.
To enhance its work for the Congress, CBO is looking for new research on health care providers’ cost structures and the market for long-term services and supports.
To enhance its work for the Congress, CBO is looking for new research on how borrowers would respond to changes in repayment plans for student loans, and how sponsors of pension plans would respond to changes in government pension insurance.
To enhance its work for the Congress, CBO is looking for new research that illuminates the effects of federal regulations on energy markets and CO2 emissions, and the effects of federal spending on efforts to adapt to climate change.
CBO estimates that plans for U.S. nuclear forces, as described in the fiscal year 2023 budget and supporting documents, would cost $756 billion over the 2023–2032 period, $122 billion more than CBO’s 2021 estimate for the 2021–2030 period.
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 $1.4 trillion in the first nine months of fiscal year 2023, CBO estimates—$875 billion more than the shortfall recorded during the same period last year.