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- Blog Post
I am delighted to report that CBO has again been recognized by the Partnership for Public Service as one of the “Best Places to Work in the Federal Government.” In our third year of participation, CBO was second among 29 agencies in the small agency category. (You can see the results for all participating federal agencies at the Partnership’s Best Places to Work website.)
- Blog Post
In fiscal year 2013, more than 8 million people will receive Supplemental Security Income (SSI) payments at a federal cost of about $53 billion, CBO estimates. Today’s CBO report, Supplemental Security Income: An Overview, discusses how the program works, who receives SSI payments, the program’s spending and its interaction with other government programs, the extent to which SSI affects people’s work and saving, and possible approaches to changing the program.
- Blog Post
The federal budget deficit was $292 billion for the first two months of fiscal year 2013, $57 billion more than the shortfall recorded in October and November of last year, CBO estimates in its latest Monthly Budget Review. Revenues rose by $30 billion, or 10 percent, but outlays increased by $87 billion, or 16 percent.
- Blog Post
Over the past 30 years, the activity of businesses that are subject to the individual income tax has grown compared with that of businesses subject to the corporate income tax. That shift has reduced federal revenues but probably promoted overall investment and a more efficient allocation of resources.
- Blog Post
Previously, when estimating the budgetary effects of legislation regarding prescription drugs, CBO found insufficient evidence of an “offsetting” effect of prescription drug use on spending for medical services. Recently, CBO reviewed dozens of newer studies and determined that a body of research now demonstrates a link between changes in prescription drug use and changes in the use of and spending for medical services.
- Blog Post
The Congress has traditionally placed a limit on the total amount of debt that the Department of the Treasury can issue to the public and to other federal agencies. Lawmakers have enacted numerous increases to the debt limit—commonly known as the debt ceiling—some of which have been temporary and many of which have been permanent.
- Blog Post
Unemployment insurance benefits topped $150 billion during 2010—when the annual unemployment rate peaked at 9.6 percent—up from $33 billion in fiscal year 2007.
- Blog Post
As required by law, CBO prepares regular reports on its estimate of the number of jobs created by the American Recovery and Reinvestment Act of 2009 (ARRA), which was enacted in response to significant weakness in the economy.
- Blog Post
This afternoon CBO released a new report on Effective Marginal Tax Rates for Low- and Moderate-Income Workers.
- Blog Post
In its fiscal year 2013 budget request, the Department of Defense (DoD) requested about $150 billion to fund the pay and benefits of current and retired members of the military. That amount is more than one-quarter of DoD’s total base budget request (the request for all funding other than for military operations in Afghanistan and related activities).