The federal government ran a budget deficit of $231 billion for the first two months of fiscal year 2014, $61 billion less than the shortfall recorded in October and November of last year, CBO estimates.
CBO Blog
The 23 options related to mandatory spending would generally decrease the amount paid to beneficiaries, redefine the population that is entitled to benefits of various programs, or reduce payments to state and local governments.
Earlier this week, Director Doug Elmendorf participated in a conference on the budget organized by the Rudman Center at the University of New Hampshire.
Most of the 16 options that CBO examined would either decrease federal spending on health programs or increase revenues (or equivalently, reduce tax expenditures) as a result of changes in tax provisions related to health care.
Users of our website will now be able to search for options according to major budget category (such as revenues), budget function (such as national defense or transportation), and major program category (such as housing or Medicare).
Households in the top quintile (including the top percentile) paid 68.8 percent of all federal taxes, households in the middle quintile paid 9.1 percent, and those in the bottom quintile paid 0.4 percent.
Extending emergency unemployment benefits would raise economic output and employment in 2014 relative to what would occur under current law, CBO estimates.
Given the high degree of interest in the relationship between people’s health and the federal budget, this post recaps some highlights from CBO’s report titled Raising the Excise Tax on Cigarettes: Effects on Health and the Federal Budget.
CBO projects that DoD’s plans will cost 3.5 percent more to execute through 2018 than DoD estimates. Moreover, the costs of DoD’s plans for 2014 through 2021 would greatly exceed the limits established by the Budget Control Act.
CBO estimates that the costs of DoD’s base-budget plans for 2014 through 2021 would average about $90 billion a year more than the funding that would be provided to DoD under the limits set by the Budget Control Act.