Cyber risk is one of the great concerns sitting at the top of any government, as hacker attacks and other security breaches have the potential to jeopardize the global economy and other aspects of everyday life. Wide reporting indicates the proliferation of cyber attacks worldwide at a substantial and increasing…
CBO’s Director, Phillip Swagel, testifies about the agency’s projections of Social Security’s finances before the Senate Budget Committee. Established in 1974, The Congressional Budget Office (CBO) is a federal agency within the legislative branch of the United States government. It is charged with providing members of Congress objective analysis of…
On June 29,2023, the Supreme Court delivered its decision in Students for Fair Admissions v. President and Fellows of Harvard College. The Court held that Harvard College’s admissions system does not comply with the principles of the equal protection clause embodied in Title VI of the Civil Rights Act. The decision,…
In an earlier posting, CBO Projections: The 2023 Budget, we provided Congressional Budget Office (CBO) documents which discuss, from a budgetary perspective, their analysis and projections of what the federal budget and economy would look like over the next 20 years, if current laws generally remain unchanged. In this posting…
Report June 28, 2023: Introduction: The U.S. faces a challenging fiscal outlook in the coming years, according to CBO’s projections. Measured as a percentage of GDP, large and sustained deficits lead to high and rising federal debt that exceeds any previously recorded level. Summary: Each year, the Congressional Budget Office…
Established in 1974, The Congressional Budget Office is a federal agency within the legislative branch of the United States government. It is charged with providing members of Congress objective analysis of budgeting and economic issues to support the congressional budget process. Each year, CBO economists and budget analysts produce dozens…
Since Open AI released ChatGPT for public use on November 30, 2022, its rate of adoption by the public has been explosive and appears to be increasing at a near exponential rate. Within two months after its public release, it had acquired an estimated 100 million users and surpassed one…
Being a retired law librarian of a certain age, I am now often asked to reflect upon my 50 years serving in various capacities as a law librarian. I have noticed that most questions asked can be grouped into discrete categories. For example, people want to know what lessons I…
This posting relates to Congressional Budget Office (CBO) correspondence dated August 25, 2022, in which the CBO answers several questions from Congressmen Kevin Brady and Jason Smith about increased enforcement by the Internal Revenue Service. It includes a brief summary of the correspondence, a direct link to the letter addressed…
INTRODUCTION The Inflation Reduction Act of 2022 (IRA) HR 5376 was signed into law by President Joe Biden on August 16, 2022, after a tortuous route through the legislative process. HR 5376 grew out of the Build Back Better Act (BBB) which passed the House on September 27, 2021, but…