CBO released an interactive graphic showing the overall federal budget in fiscal year 2018 as part of its annual update of infographics on the federal budget.
CBO will release The 2019 Long-Term Budget Outlook at 10:00 a.m. on Tuesday, June 25. The report presents projections of what federal spending, revenues, deficits, and debt would be for the next 30 years if current laws generally did not change.
CBO Director Phillip L. Swagel's remarks at the Peterson Foundation’s 2019 Fiscal Summit in Washington, D.C.
The federal budget deficit was $738 billion for the first eight months of fiscal year 2019, the CBO estimates, $206 billion more than the deficit recorded during the same period last year. Revenues were $49 billion higher and outlays were $255 billion higher than during first eight months of 2018.
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.
I am pleased to start today as the Director of the Congressional Budget Office. I am honored to join the team at CBO, and I thank Keith Hall for his leadership at CBO over the past four years.
I have been both honored and thrilled to be the director of CBO over the past four years. The office has an excellent, well-deserved reputation for the quality of its work and its commitment to independent, objective, and nonpartisan analysis.
Using FCRA procedures, CBO estimates that new loans and loan guarantees issued in 2020 would result in savings of $31 billion. But using fair-value procedures, CBO estimates that they would have a lifetime cost of $36.5 billion.
CBO continued its transparency efforts in 2019, resulting in the release of testimony, reports, spreadsheets, presentations, interactive graphics, and other products. Such efforts build on those that we reported at the end of last year.
In this report, CBO examines how FHA’s Home Equity Conversion Mortgage program works, how it affects the federal budget, and how various policy approaches might reduce costs and risks to the government or to borrowers.