CBO has developed “rules of thumb” that show how changes in four key economic variables might affect revenues, outlays, and deficits. An interactive workbook allows users to see the budgetary effects of their own alternative scenarios.
These slides provide an overview of CBO’s microsimulation tax model.
- Blog Post
This blog post explains how CBO assesses the macroeconomic effects of changes in federal spending for research and development. It also highlights areas in which additional research would enhance CBO’s capacity to evaluate such spending.
In CBO’s projections, the economy grows relatively quickly this year and next and then more slowly in the following several years. The federal budget deficit rises substantially, boosting federal debt to nearly 100 percent of GDP by 2028.
Answers to Questions for the Record Following a Hearing on Oversight of CBO Conducted by the Senate Committee on the Budget
On January 24, the Senate Budget Committee convened a hearing at which Director Keith Hall testified about CBO’s work in 2017 and its future plans. This document provides CBO’s answers to questions submitted for the record.
Budgetary and Economic Outcomes Under Paths for Federal Revenues and Noninterest Spending Specified by Chairman Enzi, September 2017
Under budgetary paths (not particular policies) specified by Senator Enzi, deficits would be smaller than projected in CBO’s baseline. Such deficit reductions would lower economic output in the next few years but raise it thereafter.
Answers to Questions for the Record Following a Hearing on CBO’s Appropriation Request for Fiscal Year 2018 Conducted by the Subcommittee on the Legislative Branch, Senate Committee on Appropriations
The Senate Appropriations Committee convened a hearing at which Director Keith Hall testified about CBO’s appropriation request for fiscal year 2018. This document provides CBO’s answers to questions submitted for the record.
Presentation by Wendy Edelberg, an Associate Director for Economic Analysis at CBO, at the Australian Treasury Research Institute's conference, Modelling for Public Policy Analysis: Emerging Trends and Future Directions.
Presentation by Wendy Edelberg, an Associate Director for Economic Analysis at CBO, at the National Bureau of Economic Research conference, Economics of Infrastructure Investment.
If current laws remained generally unchanged, the United States would face steadily increasing federal budget deficits and debt over the next 30 years—reaching the highest level of debt relative to GDP ever experienced in this country.