August 2023

  • CBO announces the members of its Panel of Health Advisers for the coming year.

  • CBO estimates the costs of federal credit programs in 2024 in two ways—following procedures prescribed by the Federal Credit Reform Act and using a fair-value approach, which measures the market value of the government’s obligations.

  • In a report required by law, CBO provides information on the limits that apply to discretionary budget authority in 2024. Because no statutory caps are in place for fiscal year 2023, there will be no sequestration for the current fiscal year.

  • The federal budget deficit was $1.6 trillion in the first 10 months of fiscal year 2023, CBO estimates—more than twice the shortfall recorded during the same period last year.