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.
CBO Blog
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a lapse in appropriated funds has caused CBO to largely shut down its operations, the Monthly Budget Review will not be published today or during the duration of the government shutdown.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.
CBO projects that the Treasury will exhaust its well-established set of extraordinary measures—which allow for additional borrowing without breaching the debt limit—as well as its cash balance, between October 22 and the end of the month.
Previously, CBO based its long-term budget estimates on the mortality rates projected by the Social Security trustees. This year, CBO projected faster declines in mortality rates (and thus longer life expectancy) than the trustees do.
Recently, the Congress has expressed renewed interest in the cost of the federal response to major disasters.
As part of The 2013 Long-Term Budget Outlook released last week, CBO compared lifetime payroll taxes and benefits for the Medicare program and the Social Security program for people born in different decades.