January 31, 2012


This glossary defines various economic and budgetary terms as they are commonly used in reports by the Congressional Budget Office. The document is updated periodically, principally to keep abreast of current laws. In some cases, the entries sacrifice technical precision for the sake of brevity and clarity. Where appropriate, entries note the sources of data for economic variables as follows:

  • BEA refers to the Bureau of Economic Analysis in the Department of Commerce,
  • BLS refers to the Bureau of Labor Statistics in the Department of Labor,
  • CBO refers to the Congressional Budget Office,
  • FRB refers to the Board of Governors of the Federal Reserve System, and
  • NBER refers to the National Bureau of Economic Research (a private entity).

The full document is available in pdf format.