The federal budget deficit was $530 billion for the first eight months of fiscal year 2018, CBO estimates, $97 billion more than the shortfall recorded during the same period last year.
CBO learns from many outside experts, including our Panel of Economic Advisers, about important analytical issues in the advisers’ areas of expertise and to obtain feedback about our economic forecast.
Over the next 10 years, the cumulative deficit under the President’s proposals would be $3.0 trillion less than the $12.4 trillion in CBO’s baseline. The deficit would average 3.7 percent of GDP, CBO estimates.
CBO and JCT project that the federal subsidies, taxes, and penalties associated with health insurance coverage for people under age 65 will result in a net subsidy from the federal government of $685 billion in 2018.
The Navy could use several approaches to increase the size of its fleet. This report focuses on reactivating decommissioned ships, drawing insights from past experiences that might inform lawmakers’ decisions about reactivating ships.
CBO works with the staff of the Joint Committee on Taxation each year to estimate the budgetary effects of the changes to spending programs and the tax code proposed in the President’s budget.
The federal budget deficit was $382 billion for the first seven months of fiscal year 2018, CBO estimates, $37 billion more than the shortfall recorded during the same period last year.
At recent hearings, Members of Congress questioned how cost-sharing reductions had been incorporated in CBO’s baseline budget projections. Given the limited time to answer those questions, this blog post provides additional information.
Last Monday, CBO released The Budget and Economic Outlook: 2018 to 2028. This week, CBO is publishing daily blog posts to share key excerpts from the report, and today’s post is about the agency’s projections of federal deficits and debt.