December 15, 2023 The Congressional Budget reports that its May 2022 projections for fiscal year 2023, CBO overestimated revenues by 11 percent and underestimated outlays by 9 percent. CBO’s projection of the federal deficit for 2023 was less than the actual amount by 3.9 percent of GDP. SUMMARY: After each…
In this report CBO responds to questions about the agency’s current view of economic growth and interest rates and the implications of that view for the federal budget—as well as about the implications of inflation for workers. SUMMARY: This letter responds to questions about the Congressional Budget Office’s current view…
Nine new documents as reported by the House Committee on Small Business on September 26, 2023 H.R. 5426, a bill to require the Administrator of the Small Business Administration to provide a link to resources for submitting reports on suspected fraud relating to certain COVID-19 loans As reported by the…
New from the Congressional Budget Office (CBO) H.R. 1809, Block the Use of Transatlantic Technology in Iranian Made Drones Act: Cost Estimate (October 30, 2023) Summary of H.R. 1809: H.R. 1809 would require the Administration to develop strategies to prevent Iran from acquiring the means to build and operate unmanned…
Posted by Phil Swagel on September 29, 2023. Because of CBO’s role in supporting the Congress in its constitutional function, the agency has been instructed by the House and Senate Budget Committees that if appropriated funds lapse and normal operations of the federal government are suspended, all CBO staff will…
Presentation by: Lara Robillard, an analyst in CBO’s Budget Analysis Division, to the Leadership Fellowship Program at the National Hispanic Medical Association. Summary: CBO was established to give the Congress a stronger role in budget matters. The agency provides analysis of budgetary and economic issues that is objective and impartial.…
As ordered reported by the House Committee on Veterans Affairs on July 26, 2023. Summary: H.R. 4278 would make several changes to disciplinary policies for employees of the Department of Veterans Affairs (VA). The bill would: • Allow VA to more quickly remove, demote, or suspend employees; • Truncate the…
Aa Presented by Richard DeKaser, Congressional Budget Office Director of Macroeconomic Analysis, to Economic and Financial Counselors from the European Union on September 14, 2023. Summary: Forecast for 2023 to 2025: Growth will be sustained but with a soft patch in the near term. Unemployment will rise slightly. Inflation will…
A Report issued by the Congressional Budget Office (CBO): “In CBO’s latest projections, economic growth slows and then picks up over the 2023–2025 period. That initial slowdown in economic growth drives up unemployment. Inflation continues to gradually decline.” Summary: “The Congressional Budget Office periodically updates its economic forecast to ensure…
New from the Congressional Budget Office (CBO). August 28, 2023 – Cost Estimate. Summary. S. 2256 would require the Department of Homeland Security (DHS) to establish a cybersecurity apprenticeship program to recruit and hire people to perform information technology and cybersecurity roles for the department. DHS also would provide apprentices…