I am delighted to report that CBO has again been recognized by the Partnership for Public Service as one of the “Best Places to Work in the Federal Government.” In our third year of participation, CBO was second among 29 agencies in the small agency category. (You can see the results for all participating federal agencies at the Partnership’s Best Places to Work website.)
December 2012
In fiscal year 2013, more than 8 million people will receive Supplemental Security Income (SSI) payments at a federal cost of about $53 billion, CBO estimates.
Today’s CBO report, Supplemental Security Income: An Overview, discusses how the program works, who receives SSI payments, the program’s spending and its interaction with other government programs, the extent to which SSI affects people’s work and saving, and possible approaches to changing the program.
The federal budget deficit was $292 billion for the first two months of fiscal year 2013, $57 billion more than the shortfall recorded in October and November of last year, CBO estimates in its latest Monthly Budget Review. Revenues rose by $30 billion, or 10 percent, but outlays increased by $87 billion, or 16 percent.
Over the past 30 years, the activity of businesses that are subject to the individual income tax has grown compared with that of businesses subject to the corporate income tax. That shift has reduced federal revenues but probably promoted overall investment and a more efficient allocation of resources.