Julie Topoleski, CBO’s Director of Labor, Income Security, and Long-Term Analysis, testifies about CBO’s demographic projections before the Joint Economic Committee.
In 2020, the coronavirus pandemic and the ensuing federal response had significant effects on the distribution of household income. Income inequality before transfers and taxes increased, but inequality after transfers and taxes decreased.
CBO estimates the flood damage homes with federally backed mortgages are expected to face in multiyear periods centered on 2020 and 2050, reflecting the effects of climate change. The agency also analyzes where that damage is concentrated.
In fiscal year 2023, which ended on September 30, the federal budget deficit totaled nearly $1.7 trillion—an increase of $320 billion (or 23 percent) from the shortfall recorded in the previous year.
The enhanced tool lets users change the defense budget to see the possible effects on military forces, or add or subtract major units to see the effects on the budget, or explore a mix of those approaches. It includes a how-to-use tutorial.
This spreadsheet provides the data that underlie CBO’s interactive force structure tool.
Some federal policies involve short-term expenditures that result in economic and budgetary effects far in the future. CBO has been building analytic capacity to consider a dynamic framework for policies that would have long-term effects.
Under the three alternatives in the Navy’s 2024 plan, total shipbuilding costs would average about $34 billion to $36 billion per year (in 2023 dollars) through 2053, CBO estimates, as the Navy built a fleet of 319 to 367 battle force ships.
CBO analyzes the Department of Defense’s plans for 2024 through 2028 as presented in the 2024 Future Years Defense Program. Under those plans, CBO projects, defense costs would increase by 10 percent between 2028 and 2038.
CBO’s Director of Health Analysis, Chapin White, testifies on alternative payment models and the slowdown in federal health care spending.