The federal budget deficit was $1.7 trillion in the first six months of fiscal year 2021, CBO estimates—almost $1 trillion more than the deficit recorded during the same period last year.
CBO describes the key design considerations for a federally administered nongroup health insurance plan—often referred to as a public option—and some of their major implications.
CBO estimates that the effects on revenues and mandatory spending of laws enacted in 2020 will add $2.8 trillion to deficits from 2020 to 2030—the net result of a $634 billion reduction in revenues and a $2.2 trillion increase in outlays.
CBO updated its interactive tool that allows users to design options for increasing the minimum wage and to examine how they would affect earnings, employment, family income, and poverty.
This report provides CBO’s projections of the Army’s costs to acquire tanks and other ground combat vehicles through 2050. On the basis of the Army’s plans, those costs are projected to average about $5 billion annually.
The Navy’s shipyards have experienced significant delays in completing maintenance on submarines. In this report, CBO projects that required maintenance will continue to exceed the shipyards’ capacity and examines options to reduce delays.
This report explains the details of two approaches to measuring the cost of government activities that involve financial risk, the qualitative differences between them, and their application to various activities and programs.
The federal budget deficit was $1,048 billion in the first five months of fiscal year 2021, CBO estimates—$423 billion more than the deficit recorded during the same period last year.
This document provides additional information about the baseline budget projections that CBO released on February 11, 2021.
CBO presents its projections of the federal budget for the next 30 years if current laws governing taxes and spending generally did not change. Growth in revenues would be outpaced by growth in spending, leading to rising deficits and debt.