Outlook for the Budget and the Economy
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Testimony on the Budget and Economic Outlook: Fiscal Years 2013 to 2023
Testimony before the Committee on the Budget, United States Senate
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The Budget and Economic Outlook: Fiscal Years 2013 to 2023
Under current law, federal debt will stay at historically high levels relative to the economy, CBO projects. Economic growth will be slow in 2013 but pick up thereafter. Even so, the unemployment rate will be above 7.5 percent through 2014.
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CBO's Economic Forecasting Record: 2013 Update
CBO’s macroeconomic forecasts have been comparable in quality with those of the Administration and the Blue Chip consensus.
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Federal Debt and the Statutory Limit, November 2012
The Congress has traditionally placed a limit on the total amount of debt that the Department of the Treasury can issue to the public and to other federal agencies.
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Choices for Deficit Reduction
Are fiscal rules a useful tool for achieving budgetary goals? View the appendix of this report to learn more.
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Economic Effects of Policies Contributing to Fiscal Tightening in 2013
Significant tax increases and spending cuts are slated to take effect in January 2013, sharply reducing the federal budget deficit and causing, by CBO’s estimates, a decline in economic output and an increase in unemployment.
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An Update to the Budget and Economic Outlook: Fiscal Years 2012 to 2022
For fiscal year 2012, the federal budget deficit will total $1.1 trillion, CBO estimates, marking the fourth year in a row with a deficit of more than $1 trillion.
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Changes in CBO's Baseline Projections Since January 2001
Updated June 7, 2012, to reflect actual results for 2011. The previous version used projections for 2011.
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Testimony on the 2012 Long-Term Budget Outlook
Chairman Ryan, Congressman Van Hollen, and Members of the Committee, thank you for inviting me to testify on the Congressi
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The 2012 Long-Term Budget Outlook
Over the past few years, the federal government has been recording budget deficits that are the largest as a share of the economy since 1945. Consequently, the amount of federal debt held by the public has surged.