The federal budget deficit was $1.2 trillion in the first eight months of fiscal year 2023, CBO estimates—$735 billion more than the shortfall recorded during the same period last year.
CBO announces the current members of its Panel of Economic Advisers.
CBO projects the budgetary effects of automatic stabilizers—as well as the size of deficits without them—from 2023 to 2033 and provides historical estimates of the stabilizers’ effects since 1973.
CBO Director Phillip Swagel discusses his recent and upcoming presentations on CBO’s latest budget projections and fiscal outlook.
CBO is engaged in many efforts to foster transparency, such as providing information to help people understand the federal budget process and the agency’s role in it. This week, CBO released three more primers as part of those efforts.
Rescissions are provisions of law that cancel budget authority previously provided to federal agencies before it would otherwise expire. This document provides answers to key questions about how CBO estimates savings from rescissions.
CBO is required to regularly prepare a baseline consisting of projections of federal revenues, spending, deficits or surpluses, and debt under current law. This document describes the laws that govern how CBO prepares those projections.
As defined by the Unfunded Mandates Reform Act of 1995, mandates generally require a nonfederal entity to take an action or comply with a prohibition. This primer describes the principles that CBO follows to identify mandates in legislation.
CBO released updated projections of health insurance coverage for people under age 65 in the journal Health Affairs.
CBO's graphics guide contains examples of the wide variety of graphics that have been produced for publications at the agency. It also includes examples of how various techniques can be applied to graphics to help convey their message.