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- Blog Post
The federal government's finances are pretty complicated and not always easy to understand,and most of CBO's reports about the budget outlook are fairly lengthy and detailed. In fact, one of the questions we're most frequently asked is how much the government spends and takes in each year. For those who are not very familiar with the budget, finding the answer is sometimes harder than it should be.
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Testimony before the Joint Select Committee on Deficit Reduction, U.S. Congress
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Letter to the Honorable Olympia J. Snowe
- Blog Post
Yesterday I spoke at the Macroeconomic Advisers’ Washington Policy Conference. My presentation focused on the significant and fundamental budgetary challenges facing our nation. I thought I’d spend the majority of this blog post discussing the latter part of my presentation—some alternative broad changes in federal spending and tax policies that might result in a budget that is sustainable over the long term.
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CBO Director Doug Elmendorf's presentation to the Macroeconomic Advisers' Washington Policy Seminar
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Testimony before the Joint Select Committee on Deficit Reduction
- Blog Post
This morning I testified before the Joint Select Committee on Deficit Reduction—the body created under the Budget Control Act to propose further deficit reductions totaling at least $1.5 trillion over 10 years. I focused on CBO’s August publication, the Budget and Economic Outlook: An Update, what we have learned about performance of the U.S.
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Estimated Impact of Automatic Budget Enforcement Procedures Specified in the Budget Control Act
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CBO projects that in fiscal year 2011, Social Security's outlays will total $733 billion, one-fifth of the federal budget; OASI payments will account for about 82 percent of those outlays, and DI payments, about 18 percent.