Outlook for the Budget and the Economy
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CBO’s Revenue Forecasting Record
CBO's revenue projections since 1982 have, on average, been a bit too high—more so for projections spanning six years than for those spanning two—but their overall accuracy has been similar to that of the projections of other agencies.
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Updated Information About Federal Debt and the Statutory Limit
In CBO’s updated analysis, extraordinary measures for borrowing additional funds without breaching the debt ceiling will be exhausted and the Treasury’s cash balance is likely to fall below $30 billion in the first few days of November.
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Federal Debt and the Statutory Limit, October 2015
If the debt limit remains unchanged, CBO projects, the Treasury’s cash balance will be entirely depleted sometime in the first half of November, at which time the government would be unable to fully pay its obligations.
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CBO’s Projections of Federal Receipts and Expenditures in the National Income and Product Accounts
How do CBO's projections of federal receipts and expenditures in the national income and product accounts compare with CBO's baseline projections of revenues and outlays in the federal budget?
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An Update to the Budget and Economic Outlook: 2015 to 2025
CBO expects that the deficit this year will be $426 billion––$60 billion less than projected in March. The economy is expected to expand modestly this year, at a solid pace in 2016 and 2017, and at a more moderate pace in subsequent years.
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Federal Debt and the Statutory Limit, August 2015
CBO projects that if the debt limit is unchanged, the measures that the Treasury has been taking to avoid breaching that limit will be exhausted sometime between mid-November and early December, and the Treasury will then run out of cash.
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Answers to Questions for the Record Following a Hearing by the House Committee on the Budget on the Work of the Congressional Budget Office
The House Budget Committee convened a hearing in June at which Director Keith Hall testified on the work of Congressional Budget Office. Committee members submitted further questions for the record, and this document provides CBO’s answers.
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Answers to Questions for the Record Following a Hearing on The 2015 Long-Term Budget Outlook Conducted by the Senate Committee on the Budget
The Senate Budget Committee convened a hearing in June at which Director Keith Hall testified about the long-term budget outlook. Committee members submitted further questions for the record, and this document provides CBO’s answers.
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Testimony on Understanding the Long-Term Budget Outlook
CBO Director Keith Hall testifies on the long-term budget outlook before the Committee on Homeland Security and Governmental Affairs, United States Senate.
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Testimony on the 2015 Long-Term Budget Outlook
CBO Director Keith Hall testifies about CBO’s 2015 Long-Term Budget Outlook before the Committee on the Budget, United States Senate.