On October 30, the Treasury Department reported that the federal budget deficit for fiscal year 2013 totaled $680 billion, $38 billion more than CBO estimated in its most recent baseline in May.
CBO Blog
CBO's new estimate of the net budgetary savings from adopting this policy is much lower than its earlier estimates for proposals to raise Medicare’s eligibility age. This report describes CBO’s new estimate and the reasons for the change.
How is FHA’s Mutual Mortgage Insurance fund structured and can it run out of funds?
Collectively, the single-family mortgage guarantees made by FHA between 1992 and 2012 have had a net federal budgetary cost of about $15 billion, according to the most recent estimates by FHA.
The total costs of carrying out the Navy’s 2014 shipbuilding plan—an average of $21 billion per year over the next 30 years—would be one-third higher than the funding amounts the Navy has received in recent decades, CBO estimates.
Because CBO largely shut down its operations during the recent lapse in appropriated funds, the agency will not issue its Monthly Budget Review in October.
Because a lapse in appropriated funds has caused CBO to largely shut down its operations, the Monthly Budget Review will not be published today or during the duration of the government shutdown.
If appropriated funds lapse and normal operations of the federal government are suspended, then CBO will largely shut down as well.
Director Doug Elmendorf explores possible changes in federal policy that might bolster innovation.
During testimony on The 2013 Long-Term Budget Outlook, estimates were provided for the economic effects of eliminating automatic spending reductions in 2014. This letter corrects and clarifies those estimates.