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Analysis of CBO’s Budget Outlook: Fiscal Years 2012-2022
The President released his annual budget today, outlining the Administration’s policy proposals, budgetary projections, and economic forecasts for 2015 through 2024.
Analysis of the President’s Fiscal Year 2014 Budget
Each year, the Congressional Budget Office (CBO) estimates the budgetary impact of the proposals in the President's budget using its own economic and technical assumptions. An Analysis of the President's 2014 Budget, released last week, illustrates the effects of the President's proposals on the growth of deficits and debt over the coming decade.
If the President’s proposals are adopted, CBO estimates that:
The Congressional Budget Office's 2012 Long-Term Budget Outlook: An Analysis
This summer, the Congress passed and the president signed the Budget Control Act of 2011 (BCA) that put in place a process for reducing the deficit. The BCA imposed caps on future discretionary spending and empowered a bipartisan, bicameral committee (the “Supercommittee”) to identify additional deficit reduction by Thanksgiving. Over the next 10 years, the spending caps are projected to reduce deficits by approximately $900 billion, and the Supercommittee is charged with finding $1.5 trillion of additional savings.
Analysis of Congressional Budget Office's August 2012 Update of the Budget and Economic Outlook
Fiscal Year 2013 Budget Proposals
Listen to Vice President of Research Susan Tanaka's interview with SiriusXM's "The Morning Briefing" on October 1st, 2012 (the beginning of Fiscal Year 2013):