"In 2016, the federal budget deficit will increase, in relation
to the size of the economy, for the first time since
2009, according to the Congressional Budget Office’s
estimates. If current laws generally remained unchanged,
the deficit would grow over the next 10 years, and by
2026 it would be considerably larger than its average over
the past 50 years, CBO projects. Debt held by the public
would also grow significantly from its already high level..."
Federal budget
Showing posts with label budget. Show all posts
Showing posts with label budget. Show all posts
Wednesday, January 20, 2016
Friday, July 10, 2015
Testimony. Understanding the Long-Term Budget Outlook
"The long-term outlook for the federal budget has
changed little since last year, according to CBO’s projections.
If current laws remained generally unchanged in
the future, federal debt held by the public would decline
slightly relative to the economy’s annual output, or gross
domestic product (GDP), over the next few years, CBO
projects. After that, however, growing budget deficits—
caused mainly by the aging of the population and rising
health care costs—would push debt back to, and then
above, its current high level. The deficit would grow from
less than 3 percent of GDP this year to more than 6 percent
in 2040. At that point, 25 years from now, federal
debt held by the public would exceed 100 percent of
GDP. (Federal debt is now equivalent to about 74 percent
of GDP, a higher percentage than at any point in U.S.
history except a seven-year period around World War II.).."
Federal budget
Federal budget
Wednesday, January 8, 2014
Projected Costs of U.S. Nuclear Forces, 2014 to 2023
"As directed by the Congress in the National Defense Authorization Act for Fiscal Year 2013 (Public
Law 112-239), the Congressional Budget Office (CBO) has estimated the costs over the next 10 years of the
Administration’s plans for operating, maintaining, and modernizing nuclear weapons and the military systems
capable of delivering those weapons..." Cost of nuclear forcesSaturday, May 25, 2013
Analysis of the President's 2014 Budget
"This report by the Congressional Budget Office (CBO) presents an analysis of the proposals contained in the President’s budget request for fiscal year 2014. The analysis is based on CBO’s economic projections and estimating assumptions and models, rather than the Administration’s, and incorporates estimates by the staff of the Joint Committee on Taxation (JCT) for the President’s tax proposals..."
Analysis of the President's 2014 Budget
Wednesday, February 6, 2013
The Budget and Economic Outlook: Fiscal Years 2013 to 2023
A report from the U.S. Congressional Budget Office on forecasts for the federal budget for 2013 to 2023.
https://www.cbo.gov/sites/default/files/cbofiles/attachments/43907_Outlook_2012-2-5_Corrected.pdf
https://www.cbo.gov/sites/default/files/cbofiles/attachments/43907_Outlook_2012-2-5_Corrected.pdf
Wednesday, March 14, 2012
Updated Budget Projections: Fiscal Years 2012 To 2022
"This report summarizes CBO’s updated baseline budget projections and describes how they differ from the projections that the agency published two months earlier."
Monday, February 13, 2012
The President's Budget
"The Constitution of the United States, Article I, Section 9 directs that “No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law.” Each year the U.S. Congress drafts legislation to appropriate funds for the continued operation of the government during the next fiscal year. Since 1921, this process has been kicked off by the submission from the President of the United States of a budget with the proposed expenditures for the executive, legislative and judicial branchs of the government. This document is entitled “The Budget of the United States Government.”.."
Tuesday, January 17, 2012
Unauthorized Appropriations and Expiring Authorizations
"This report by the Congressional Budget Office (CBO) satisfies the requirements of
section 202(e)(3) of the Congressional Budget and Impoundment Control Act, as amended.
The report, which must be completed by January 15 of each year, is intended to assist the
Congress by identifying authorizations of appropriations that have expired or that will expire
this year..."
section 202(e)(3) of the Congressional Budget and Impoundment Control Act, as amended.
The report, which must be completed by January 15 of each year, is intended to assist the
Congress by identifying authorizations of appropriations that have expired or that will expire
this year..."
Thursday, September 22, 2011
The Congressional Budget Process: A Brief Overview
"The term “budget process,” when applied to the federal government, actually refers to a number of processes that have evolved separately and that occur with varying degrees of coordination. This overview, and the accompanying flow chart, are intended to describe in brief each of the parts of the budget process that involve Congress, clarify the role played by each, and explain how they operate together. They include the President’s budget submission, the budget resolution, reconciliation, sequestration, authorizations, and appropriations."
Saturday, August 27, 2011
The Budget and Economic Outlook: An Update, August 2011
"...The United States is facing profound budgetary and economic challenges. At 8.5 percent of gross domestic product (GDP), the $1.3 trillion budget deficit that the Congressional Budget Office (CBO) projects for 2011 will be the third-largest shortfall in the past 65 years (exceeded only by the deficits of the preceding two years). This year’s deficit stems in part from the long shadow cast on the U.S. economy by the financial crisis and the recent recession. Although economic output began to expand again two years ago, the pace of the recovery has been slow, and the economy remains in a severe slump. Recent turmoil in financial markets in the United States and overseas threatens to prolong the slump..."
"...The United States is facing profound budgetary and economic challenges. At 8.5 percent of gross domestic product (GDP), the $1.3 trillion budget deficit that the Congressional Budget Office (CBO) projects for 2011 will be the third-largest shortfall in the past 65 years (exceeded only by the deficits of the preceding two years). This year’s deficit stems in part from the long shadow cast on the U.S. economy by the financial crisis and the recent recession. Although economic output began to expand again two years ago, the pace of the recovery has been slow, and the economy remains in a severe slump. Recent turmoil in financial markets in the United States and overseas threatens to prolong the slump..."
Tuesday, August 16, 2011
A Balanced Budget Constitutional Amendment: Background and Congressional Options
"One of the most persistent political issues facing Congress in recent decades is whether to require that the budget of the United States be in balance. Although a balanced federal budget has long been held as a political ideal, the accumulation of large deficits in recent years has heightened concern that some action to require a balance between revenues and expenditures may be necessary.
The debate over a balanced budget measure actually consists of several interrelated debates. Most prominently, the arguments of proponents have focused on the economy and the possible harm resulting from consistently large deficits and a growing federal debt. Another issue involves whether such a requirement should be statutory or made part of the Constitution. Some proponents of balanced budgets oppose a constitutional amendment, fearing that it would prove to be too inflexible for dealing with future circumstance.."
"One of the most persistent political issues facing Congress in recent decades is whether to require that the budget of the United States be in balance. Although a balanced federal budget has long been held as a political ideal, the accumulation of large deficits in recent years has heightened concern that some action to require a balance between revenues and expenditures may be necessary.
The debate over a balanced budget measure actually consists of several interrelated debates. Most prominently, the arguments of proponents have focused on the economy and the possible harm resulting from consistently large deficits and a growing federal debt. Another issue involves whether such a requirement should be statutory or made part of the Constitution. Some proponents of balanced budgets oppose a constitutional amendment, fearing that it would prove to be too inflexible for dealing with future circumstance.."
Wednesday, July 6, 2011
2011 Wisconsin Act 32 (Wisconsin State Budget)
Access to the recently enacted Wisconsin Executive Budget for the fiscal year 2001-2013.
Access to the recently enacted Wisconsin Executive Budget for the fiscal year 2001-2013.
Monday, June 27, 2011
CBO’s 2011 Long-Term Budget Outlook
Testimony of Congressional Budget Office's Director, Douglass W. Elmendorf before the Committee on the Budget, U.S. House of Representatives, June 23, 2011.
Testimony of Congressional Budget Office's Director, Douglass W. Elmendorf before the Committee on the Budget, U.S. House of Representatives, June 23, 2011.
Thursday, June 23, 2011
CBO'S 2011 Long Term Budget Outlook
"This Congressional Budget Office (CBO) report presents the agency’s projections of
federal spending and revenues over the coming decades. Under current law, an aging population and rapidly rising health care costs will sharply increase federal spending for health care programs and Social Security. If revenues remained at their historical average share of gross domestic product (GDP), such spending growth would cause federal debt to grow to unsustainable levels. If policymakers are to put the federal government on a sustainable budgetary path, they will need to increase revenues substantially as a percentage of GDP, decrease spending significantly from projected levels, or adopt some combination of those two approaches. In keeping with CBO’s mandate to provide objective, impartial analysis, this report makes no recommendations..."
"This Congressional Budget Office (CBO) report presents the agency’s projections of
federal spending and revenues over the coming decades. Under current law, an aging population and rapidly rising health care costs will sharply increase federal spending for health care programs and Social Security. If revenues remained at their historical average share of gross domestic product (GDP), such spending growth would cause federal debt to grow to unsustainable levels. If policymakers are to put the federal government on a sustainable budgetary path, they will need to increase revenues substantially as a percentage of GDP, decrease spending significantly from projected levels, or adopt some combination of those two approaches. In keeping with CBO’s mandate to provide objective, impartial analysis, this report makes no recommendations..."
Saturday, April 23, 2011
An Analysis of the President's Budgetary Proposals for Fiscal Year 2012
"t the request of the Senate Committee on Appropriations, the Congressional Budget Office (CBO) has prepared an analysis of the President's budgetary proposals for fiscal year 2012, which were released on February 14, 2011. The analysis uses CBO's economic assumptions and estimating techniques, rather than the Administration's, to project how the proposals in the President's budget would affect federal revenues and outlays and the U.S. economy. For tax provisions, the analysis incorporates estimates prepared by the staff of the Joint Committee on Taxation.
This analysis follows and supplements CBO's "Preliminary Analysis of the President’s Budget for 2012," which was released on March 18, 2011, as an attachment to a letter to the Chairman of the Senate Appropriations Committee. CBO has not changed its estimates from the ones presented there. Chapter 1 of this report reiterates that document, with additional figures and details about the differences between CBO's and the Administration's budget estimates. Chapter 2 presents CBO's analysis of how the President's proposals would affect the overall economy (relative to what would occur under current law) and, in turn, indirectly affect the budget."
"t the request of the Senate Committee on Appropriations, the Congressional Budget Office (CBO) has prepared an analysis of the President's budgetary proposals for fiscal year 2012, which were released on February 14, 2011. The analysis uses CBO's economic assumptions and estimating techniques, rather than the Administration's, to project how the proposals in the President's budget would affect federal revenues and outlays and the U.S. economy. For tax provisions, the analysis incorporates estimates prepared by the staff of the Joint Committee on Taxation.
This analysis follows and supplements CBO's "Preliminary Analysis of the President’s Budget for 2012," which was released on March 18, 2011, as an attachment to a letter to the Chairman of the Senate Appropriations Committee. CBO has not changed its estimates from the ones presented there. Chapter 1 of this report reiterates that document, with additional figures and details about the differences between CBO's and the Administration's budget estimates. Chapter 2 presents CBO's analysis of how the President's proposals would affect the overall economy (relative to what would occur under current law) and, in turn, indirectly affect the budget."
Monday, February 14, 2011
President's Budget of the U.S. Government, FY 2012
"The President's Budget of the United States Government, Fiscal Year 2012 is now available from the United States Government Printing Office (GPO). The public can search or browse the budget, which is accessible from GPO’s Federal Digital System. FY 2012 Budget documents are available in PDF, with many of the tables also available for separate viewing and downloading as spreadsheets in xls and comma delimited formats..."
"The President's Budget of the United States Government, Fiscal Year 2012 is now available from the United States Government Printing Office (GPO). The public can search or browse the budget, which is accessible from GPO’s Federal Digital System. FY 2012 Budget documents are available in PDF, with many of the tables also available for separate viewing and downloading as spreadsheets in xls and comma delimited formats..."
Thursday, January 27, 2011
BUDGET AND ECONOMIC OUTLOOK: FISCAL YEARS 2011 THROUGH 2021
"Text-only. The full version of the summary may include tables, charts, and footnotes.
The United States faces daunting economic and budgetary challenges. The economy has struggled to recover from the recent recession, which was triggered by a large decline in house prices and a financial crisis—events unlike anything this country has seen since the Great Depression. During the recovery, the pace of growth in the nation's output has been anemic compared with that during most other recoveries since World War II, and the unemployment rate has remained quite high..."
"Text-only. The full version of the summary may include tables, charts, and footnotes.
The United States faces daunting economic and budgetary challenges. The economy has struggled to recover from the recent recession, which was triggered by a large decline in house prices and a financial crisis—events unlike anything this country has seen since the Great Depression. During the recovery, the pace of growth in the nation's output has been anemic compared with that during most other recoveries since World War II, and the unemployment rate has remained quite high..."
Wednesday, August 25, 2010
THE BUDGET AND ECONOMIC OUTLOOK: AN UPDATE
"he Congressional Budget Office (CBO) estimates that the federal budget deficit for 2010 will exceed $1.3 trillion—$71 billion below last year's total and $27 billion lower than the amount that CBO projected in March 2010, when it issued its previous estimate. Relative to the size of the economy, this year's deficit is expected to be the second largest shortfall in the past 65 years: At 9.1 percent of gross domestic product (GDP), it is exceeded only by last year's deficit of 9.9 percent of GDP. As was the case last year, this year's deficit is attributable in large part to a combination of weak revenues and elevated spending associated with the economic downturn and the policies implemented in response to it..."
"he Congressional Budget Office (CBO) estimates that the federal budget deficit for 2010 will exceed $1.3 trillion—$71 billion below last year's total and $27 billion lower than the amount that CBO projected in March 2010, when it issued its previous estimate. Relative to the size of the economy, this year's deficit is expected to be the second largest shortfall in the past 65 years: At 9.1 percent of gross domestic product (GDP), it is exceeded only by last year's deficit of 9.9 percent of GDP. As was the case last year, this year's deficit is attributable in large part to a combination of weak revenues and elevated spending associated with the economic downturn and the policies implemented in response to it..."
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