Outlook for the Budget and the Economy
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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.
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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.
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Testimony on The 2013 Long-Term Budget Outlook
Testimony before the Committee on the Budget, U.S. House of Representatives.
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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.
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The 2013 Long-Term Budget Outlook
Federal debt would grow to 100 percent of GDP by 2038 under current law, CBO projects, and would be on an upward path relative to the size of the economy—a trend that could not be sustained indefinitely.
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Federal Debt and the Statutory Limit, June 2013
The Treasury is currently at its limit on borrowing and has begun employing its well-established toolbox of measures to allow continued borrowing for a limited time. When will those measures be exhausted?
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Updated Budget Projections: Fiscal Years 2013 to 2023
A robust increase in revenues projected over the next few years will help shrink deficits through 2015. But deficits are projected to rise later in the decade, partly because of pressures of an aging population and rising health care costs.
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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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Testimony on the Budget and Economic Outlook: Fiscal Years 2013 to 2023
This statement summarizes CBO's new economic forecast and baseline budget projections, which cover fiscal years 2013 to 20