The Treasury is currently at its limit on borrowing and has begun employing its well-established toolbox of measures to allow continued borrowing for a limited time. When will those measures be exhausted?
CBO Blog
The interest rate for subsidized student loans is currently scheduled to double from 3.4 percent to 6.8 percent on July 1, 2013. What would be the budgetary impact of changing interest rates for student loans?
The federal government ran a budget deficit of $627 billion from October 2012 through May 2013 (the first eight months of fiscal year 2013), according to CBO’s estimates.
People eligible for both Medicare and Medicaid benefits—known as “dual-eligible beneficiaries”—are a varied group, but many have extensive health care needs and account for a disproportionate share of spending on Medicare and Medicaid.
In 2013, the benefits of 10 of the largest tax expenditures will equal 11.7 percent of income for households in the lowest income quintile, 9.4 percent for the highest quintile, and under 8 percent for the middle quintiles, CBO estimates.
The cost to the federal government of the TARP’s transactions, including grants for mortgage programs that have not yet been made, will amount to $21 billion, CBO estimates—$3 billion less than it previously projected.
A carbon tax’s effect on the economy depends on how lawmakers would use revenues generated by the tax. The tax would help reduce U.S. emissions but would have only a modest effect on the Earth’s climate without a worldwide effort.
Testimony before the Subcommittee on the Legislative Branch, Committee on Appropriations, United States Senate
Enactment of the President’s proposals would, CBO and the staff of the Joint Committee on Taxation estimate, result in deficits totaling $5.2 trillion between 2014 and 2023, $1.1 trillion less than the cumulative deficit in CBO’s baseline.
Following the release of CBO’s analysis of the President’s FY 2014 budget, in today’s blog post, Director Doug Elmendorf compares the President’s plan with Congressional budget plans.