Migrants’ remittances—payments sent by foreign-born workers back to their home country—have become a significant source of monetary inflows for many countries. As one of the most important destinations of global migration, the United States is the single largest national source of remittances.
Under the American Recovery and Reinvestment Act of 2009 (ARRA), also known as the economic stimulus package, certain recipients of funds appropriated in ARRA (most grant and loan recipients, contractors, and subcontractors) are required to report the number of jobs funded through the law after the end of each calendar quarter. ARRA also requires CBO to comment on those reported numbers.
This afternoon, CBO issued two letters related to health care legislation:
Wages are a key component of the overall economic well-being of individuals and families. Hourly wages and hours worked determine an individuals earnings, and for most nonelderly adults, earnings constitute the bulk of their familys income.
In most years, the Department of Defense (DoD) provides a five- or six-year plan, called the Future Years Defense Program (FYDP), associated with the budget it submits to the Congress.
In preparing its annual report on the budget outlook and updates to that report during the course of the year, CBO projects revenues from the federal individual income tax.
The federal government incurred a budget deficit of $424 billion in the first four months of fiscal year 2011, CBO estimates in its latest Monthly Budget Review, slightly less than the shortfall recorded in the same period last year.
The United States faces daunting economic and budgetary challenges. The economy has struggled to recover from the recent recession: The pace of growth in output has been anemic compared with that during most other recoveries and the unemployment rate has remained quite high.
The nation’s network of highways plays a vital role in the United States. In 2007, the public sector spent $146 billion to build, operate, and maintain highways in the United States. About three-quarters of that total was provided by state and local governments.