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- Report
The Congressional Budget Act of 1974 requires CBO to prepare estimates of the cost of legislation at certain points in the legislative process. This document provides answers to questions about how CBO prepares those cost estimates.
- Report
The U.S. faces a challenging fiscal outlook according to CBO's extended baseline projections, which show budget deficits and federal debt held by the public growing steadily in relation to gross domestic product over the next three decades.
- Report
In CBO’s projections, assuming that current laws generally remain unchanged, the federal deficit totals $1.0 trillion in fiscal year 2022 and averages $1.6 trillion per year from 2023 to 2032. Real GDP grows by 3.1 percent this year.
- Presentation
Presentation by Theresa Gullo, CBO's Director of Budget Analysis, to the Organisation for Economic Co-operation and Development's Committee of Senior Budget Officials.
- Report
CBO analyzes the economic effects of waiting to stabilize federal debt. The longer action is delayed, the larger the policy changes needed to stabilize debt. The timing and type of policy would determine its effects on different age and income groups.
- Working Paper
CBO used a general-equilibrium, overlapping-generations model to analyze the economic and distributional implications of five illustrative single-payer health care systems. The working paper builds on previous CBO studies about single-payer health care systems.
- Report
CBO examined two illustrative scenarios that would boost federal funding for a mix of types of physical infrastructure by $500 billion over 10 years. The two scenarios differ in how the additional spending would be financed.
- Report
CBO presents its projections of the federal budget for the next 30 years if current laws governing taxes and spending generally did not change. Growth in revenues would be outpaced by growth in spending, leading to rising deficits and debt.
- Report
CBO presents its projections of what federal deficits, debt, spending, and revenues would be for the next 30 years if current laws governing taxes and spending generally did not change.
- Working Paper
CBO uses the budgetary feedback model (BFM) to estimate how changes in the macroeconomy might affect the federal budget. This paper describes how the BFM is constructed, how it is used in CBO's dynamic analyses, and the model's limitations.