Teri Gullo, CBO’s Assistant Director for Budget Analysis, was honored at an awards ceremony on Friday as a finalist for the Congressional Management Foundation’s lifetime achievement award.
In this primer, CBO discusses the methodological differences between the FCRA and fair-value approaches and how those differences affect estimates of the cost of federal credit programs.
The federal budget deficit was $607 billion for the first nine months of fiscal year 2018, CBO estimates, $84 billion more than the shortfall recorded during the same period last year.
CBO has updated its January 2018 report to the Congress on programs funded for fiscal year 2018 for which authorizations of appropriations have expired or will expire during the current fiscal year.
Using FCRA procedures, CBO estimates that new loans and loan guarantees issued in 2019 would result in savings of $37.4 billion. But using fair-value procedures, CBO estimates that they would have a lifetime cost of $37.9 billion.
CBO released a report on its “rules of thumb” that shows how changes in four key economic variables might affect revenues, outlays, and deficits. An interactive workbook allows users to see the budgetary effects of their own scenarios.
In 2017, the government financed roughly $100 billion in student loans and provided about $30 billion in grants and $30 billion in tax preferences. This report examines the impact of such aid and a number of approaches to changing it.
Today CBO released The 2018 Long-Term Budget Outlook. The report finds that if current laws generally remained unchanged, growing budget deficits would boost debt sharply in coming years.
In 2016, students pursuing higher education received about $91 billion in financial support from federal spending programs and tax expenditures. This report examines the distribution of that assistance among households, by income group.
This blog post explains how CBO assesses the macroeconomic effects of changes in federal spending for research and development. It also highlights areas in which additional research would enhance CBO’s capacity to evaluate such spending.