On an annualized basis, the funding provided by the continuing resolution would exceed the statutory caps by $19 billion. Defense funding would exceed its cap by about $20 billion; nondefense funding would be about $1 billion below its cap.
CBO Blog
The 2013 Long-Term Budget Outlook will be available on CBO’s website at 10:00 a.m. on the day of release.
The federal government ran a budget deficit of roughly $750 billion for the first 11 months of fiscal year 2013, CBO estimates, a reduction of more than $400 billion from the shortfall recorded for the same period last year.
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In the 2011–2012 academic year, 9.4 million students received $34 billion in Pell grants. How would tightening eligibility or changing grant amounts affect the program’s costs or the number of recipients?
Updated Historical Budget Data Following BEA's Recent Update of the National Income and Product Accounts
The federal government’s budget deficit was slightly more than $600 billion in the first 10 months of fiscal year 2013, CBO estimates, almost $370 billion less than the shortfall recorded for the same period last year.
The recently announced one-year delay in the imposition of certain penalties and requirements under the Affordable Care Act will raise the 10-year costs of its health insurance coverage provisions by an estimated $12 billion.
Projections of income earned by individuals and businesses are an integral part of CBO’s regular 10-year projections of the economy and a key component of its projections of federal revenues and outlays.
Canceling the automatic spending reductions in effect for 2013 and scheduled for 2014 would increase both real GDP and employment in 2014 compared with what would occur under current law, CBO estimates, but federal debt would be greater.