• Issues Fiscal Outlook 2011 03 21 Report on CBO Budget Analysisx

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    The Congressional Budget Office’s 2011 Long-Term Budget Outlook

    The Congressional Budget Office (CBO) recently published an update of its long-term outlook for the budget and concluded that the federal budget will continue to face intense pressures from the aging of the population and growth in health care costs.i These pressures will push up spending on Social Security, Medicare and Medicaid. If taxes are not increased or spending is not cut, CBO projects that interest costs will climb and federal debt will grow to levels that will damage our economy. CBO’s views about the long-term outlook have not changed much from last year.


    Summary of CBO Update on Budget and Economic Outlook

    The latest report by the Congressional Budget Office (CBO) on the outlook for the U.S. budget and economy highlights the costs of the ongoing weakness in our economy and uncertain direction of our nation’s fiscal policies (1). On the economy, CBO projects that a full recovery from the recession will not be complete until 2017—almost a decade after it started in December 2007. On the budget, CBO warns that if current policies are continued, federal debt is on an “explosive path” over the long run.


    The Office of Management and Budget's Sequestration Report:An Analysis

    On September 14, 2012 the President's Office of Management and Budget (OMB) released a report detailing the effects of the automatic across-the-board spending reductions, known as sequestration, scheduled to take place next January 2. These cuts result from the failure of the bipartisan "Supercommittee," which was created by the Budget Control Act of 2011 (BCA), to agree on $1.2 trillion in deficit reduction. For 2013, OMB estimated that the sequestration would result in a:


Fiscal Confidence Index

Survey: Modeled after the Consumer Confidence Index, the Fiscal Confidence Index is a monthly national survey that measures public opinion about the national debt.

The Tax Reform Opportunity

Video: Our tax code is complex, unfair, and insufficient. Learn more about the opportunity we have to reform and improve tax policy.