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- Blog Post
In fiscal year 2012, the federal budget deficit surpassed $1 trillion for the fourth year in a row. If lawmakers maintained current policies by preventing most of the tax increases and spending cuts that are scheduled to occur in January, deficits would total almost $10 trillion over the next decade. Federal debt held by the public would increase from nearly 73 percent of gross domestic product (GDP) at the end of 2012 to 90 percent of GDP 10 years from now.
- Report
Are fiscal rules a useful tool for achieving budgetary goals? View the appendix of this report to learn more.
- Blog Post
The federal government provides credit assistance to individuals and businesses in the form of direct loans and through guarantees of loans made by private financial institutions. In a report requested by the Chairman and Ranking Member of the Senate Budget Committee, CBO provides an illustrative analysis of the federal government’s costs for those credit programs following two approaches:
- Report
CBO provides an illustrative analysis of the federal government’s costs for credit programs following two approaches.
- Cost Estimate
As approved by the House Committee on Financial Services on April 18, 2012 H. Con. Res. 112, the Concurrent Budget Resolution for fiscal year 2013, as passed by the House of Representatives on March 29, 2012, instructed several committees of the House to recommend legislative changes that would reduce deficits over the 2012-2022 period. As part of this process, the House Committee on Financial Services was instructed to recommend changes to current law that would reduce the deficit by $29.8 billion for fiscal years 2012 through 2022.
- Report
In response to a request from the Honorable Paul Ryan, Chairman of the Committee on the Budget, U.S. House of Representatives, the Congressional Budget Office has prepared a list of its publications that analyze the budgetary impact of the Budget Control Act of 2011 (P.L. 112-25).
- Graphic
The federal government spent $3.6 trillion in fiscal year 2011 (which ended on September 30, 2011).
- Graphic
The federal government spent $3.6 trillion in fiscal year 2011 (which ended on September 30, 2011).
- Graphic
Budget Infographic - Revenues
- Report
CBO reports annually to the Congress on programs funded for the current fiscal year whose authorizations of appropriations have expired and on programs whose authorizations of appropriations will expire during the current fiscal year.