CBO’s budget projections under current law—known as baseline projections—give the Congress a benchmark against which to measure the effects of proposed changes spending and taxes. The projections show what would happen to the federal budget if current laws remained in place, that is if no new laws affecting spending and taxes were enacted during the projection period. In addition, the agency regularly shows the effects of adopting alternative policies that have been discussed by the Congress, so that the impact of those alternative policies is clear. CBO also makes long-term budget projections.
Nov 2013 - CBO projects that DoD’s plans will cost 3.5 percent more to execute through 2018 than DoD estimates. Moreover, the costs of DoD’s plans for 2014 through 2021 would greatly exceed the limits established by the Budget Control Act.
Sep 2013 - 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.
May 2013 - 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.
Feb 2013 - 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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