Summarizing three reports about the aviation fleets of the U.S. Air Force, Army, and the Department of the Navy, CBO projects the number and costs of aircraft the Department of Defense would need to procure to maintain the fleets’ current size through 2050.
CBO will release its annual Budget and Economic Outlook at 2:00 p.m. ET on Tuesday, January 28. The report will include updated economic and budget projections spanning the period from 2020 to 2030.
This report examines military compensation and its effects on recruitment, retention, and motivation. CBO also provides a comparison with civilian compensation packages and examines five possible approaches for altering the way that DoD compensates military personnel.
As required, CBO reports on whether appropriations enacted for the current fiscal year have exceeded the statutory caps on discretionary funding. In CBO’s estimation, they have not, and a sequestration will not be required for 2020.
Immigration increases total economic output, though not necessarily output per capita. It also affects the federal budget through the taxes that foreign-born people pay and the government programs in which they participate.
The federal budget deficit was $358 billion in the first quarter of fiscal year 2020, CBO estimates, $39 billion more than the deficit recorded during the same period last year.
CBO estimates that purchasing new aircraft to maintain the aviation fleet of the Navy and Marine Corps at its current size would cost about $380 billion (in 2018 dollars) from 2020 to 2050. Annual costs would range from $7 billion to $17 billion.
Last Friday, members of CBO’s staff gave a public presentation of an unusual kind: not testimony at a Congressional hearing or a summary of research at an academic conference, but 30 minutes of holiday songs as part of the National Park Service’s National Christmas Tree Music Program.
Transparency is a top priority for CBO. The agency has long been dedicated to clearly explaining its analyses, and CBO has continued to bolster its efforts to be transparent over the past year.
This report projects the distributions of household income, means-tested transfers, and federal taxes under current law in 2021 and compares them with the actual distributions in 2016.