Outlook for the Budget and the Economy
- Presentation
Overview of the Federal Budget
Presentation by Jeff Holland, Chief, Projections Unit, at the National Conference of State Legislatures
- Report
Federal Debt and the Statutory Limit, November 2013
Under current law, after February 7, 2014, the Treasury would have no room to borrow and would need to use its so-called extraordinary measures—which could be exhausted as early as March but might last until May or early June.
- Blog Post
Meeting with the Budget Conference Committee
Director Doug Elmendorf met with the budget conference committee to review the economic and budget outlook and to answer questions from the conferees.
- Presentation
Presentation to the Budget Conference Committee
Presentation by Doug Elmendorf, Director, to the Budget Conference Committee Led by Chairman Paul Ryan of the House Budget Committee and Chairman Patty Murray of the Senate Budget Committee
- Blog Post
How the Actual Federal Budget Results for 2013 Compared With CBO’s May 2013 Estimates
On October 30, the Treasury Department reported that the federal budget deficit for fiscal year 2013 totaled $680 billion, $38 billion more than CBO estimated in its most recent baseline in May.
- Graphic
Snapshot of Corporate Income Tax Receipts
Since 2008, corporate income tax receipts have been smaller, relative to the size of the economy, than their historical average of 1.9 percent of GDP—largely because the recent recession substantially reduced taxable corporate profits.
- Report
Economic Effects in 2014 of Eliminating the Automatic Spending Reductions Specified in the Budget Control Act
During testimony on The 2013 Long-Term Budget Outlook, estimates were provided for the economic effects of eliminating automatic spending reductions in 2014. This letter corrects and clarifies those estimates.
- Report
Testimony on The 2013 Long-Term Budget Outlook
Testimony before the Committee on the Budget, U.S. House of Representatives.
- Report
Federal Debt and the Statutory Limit, September 2013
CBO projects that the Treasury will exhaust its well-established set of extraordinary measures—which allow for additional borrowing without breaching the debt limit—as well as its cash balance, between October 22 and the end of the month.
- Presentation
Press Briefing on The 2013 Long-Term Budget Outlook
Director Doug Elmendorf’s slides from his press briefing on The 2013 Long-Term Budget Outlook