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- Presentation
CBO Director Doug Elmendorf's presentation to The Group of Thirty
- Working Paper
This paper describes the infinite-horizon general equilibrium model that, among other models, CBO uses for its analysis of the President's budgetary proposals.
- Report
- Report
CBO's Long-Term Projections for Social Security: 2009 Update
- Blog Post
Today, CBO released anupdate of its long-term Social Security projections.The projections are qualitatively similar to those in previous CBO reports: Social Securitys annual revenues currently exceed its annual outlays, but as the baby-boom generation continues to age, growth in the number of Social Security beneficiaries will pick up, and absent legislative changes, outlays will increase much faster than revenues.
- Report
Testimony before the Committee on the Budget, United States Senate
- Blog Post
Today I hadthe opportunity to testify before the Senate Budget Committeeabout CBOs most recent analysis of the long-term budget outlook.
- Report
Background Paper: CBO's Long-Term Model: An Overview
- Report
The Long-Term Budget Outlook
- Blog Post
Today CBO released the Long-Term Budget Outlook. Under current law, the federal budget is on an unsustainable pathmeaning that federal debt will continue to grow much faster than the economy over the long run. Although great uncertainty surrounds long-term fiscal projections, rising costs for health care and the aging of the U.S. population will cause federal spending to increase rapidly under any plausible scenario. Unless tax revenues increase just as rapidly, the rise in spending will produce growing budget deficits and accumulating debt.