The federal budget deficit was $259 billion in the first four months of fiscal year 2022, CBO estimates. That amount is less than deficits recorded for the same period in the two prior years.
In its March 2020 projections for fiscal year 2021, CBO underestimated revenues by 15 percent and overestimated outlays by 4 percent. CBO’s projection of the federal budget deficit in 2021 was more than the actual amount by 3.9 percent of GDP.
CBO examined potential reasons that the prices paid by commercial health insurers for hospitals’ and physicians’ services are higher, rise more quickly, and vary more by area than the prices paid by the Medicare fee-for-service program.
CBO examines trends in nationwide spending on prescription drugs over the 1980–2018 period. CBO also provides a detailed analysis of trends in spending, use, and prices in the Medicare Part D and Medicaid programs over the 2009–2018 period.
CBO reports annually on programs whose authorizations of appropriations have already expired or will expire. This information covers legislation enacted through September 30, 2021. A full report will be issued later this year.
CBO describes the securitization programs of the Government National Mortgage Association (Ginnie Mae) and compares its baseline budget projections for Ginnie Mae with outcomes under a scenario of severe economic stress.
CBO analyzes DoD’s plans for 2022 as presented in the Biden Administration’s 2022 budget request and projects how those plans would affect defense costs through 2031. Those costs would increase by 10 percent over that period, CBO projects.
The federal budget deficit was $377 billion in the first quarter of fiscal year 2022, CBO estimates—$196 billion less than the deficit during the same period last year, and slightly larger than the deficit recorded during the same period two years ago.
In this report, the latest in a quarterly series, CBO highlights its recent work and summarizes its work in progress.
CBO analyzes patterns in the availability and use of the Air Force’s and Department of the Navy’s aircraft since 2001. CBO also analyzes how the military aircraft have performed since the onset of the coronavirus pandemic.