On January 24, 2018, Director Keith Hall testified before the Senate Budget Committee on CBO’s work in 2017 and the agency’s plans for the future.
Since 1975, CBO has produced nonpartisan analyses of budgetary and economic issues in support of the Congress. In 2017, CBO completed 740 formal cost estimates, 86 analytic reports and working papers, and many other products.
CBO reports annually to the Congress on programs funded for the current fiscal year whose authorizations of appropriations have expired and on programs whose authorizations of appropriations will expire during the current fiscal year.
The federal budget deficit was $228 billion in the first quarter of fiscal year 2018, CBO estimates—$18 billion more than the one recorded during the same period last year.
This report describes the structure of the federal crop insurance program, the government’s role and costs, the benefits provided to various groups, and policy options that would decrease federal spending on the program.
CBO reviews Fannie Mae and Freddie Mac’s program to transfer some of the credit risk of their guarantees to investors and analyzes two approaches for expanding those efforts.
The federal budget deficit was $198 billion for the first two months of fiscal year 2018, CBO estimates, $15 billion more than the one recorded during the same period last year. Revenues and outlays alike were 6 percent higher than in October and November 2016.
This report assesses the accuracy of projections that CBO and JCT made in 2010 and 2013 of federal spending for people made newly eligible for Medicaid by the ACA and of subsidies for health insurance purchased through the ACA marketplaces.
CBO estimates that inflation-adjusted costs for the Department of Defense would climb from the $575 billion requested in 2018 to $688 billion in 2027 if DoD pursued goals that Administration officials have articulated for the military.
Under current law, on December 9, federal debt will be at the statutory limit and the Treasury will need to use “extraordinary measures” to continue to raise cash. Those measures would probably be exhausted in late March or early April.