CBO’s Budget Outlook Shows Pandemic’s Acceleration of U.S. Fiscal Challenges
The latest budget outlook released by CBO is the first to fully capture the budgetary impact of the pandemic.
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The latest budget outlook released by CBO is the first to fully capture the budgetary impact of the pandemic.
The latest report by the 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.
https://www.pgpf.org/analysis/summary-of-cbo-update-on-budget-and-economic-outlook
The CBO provides two projections of the nation's fiscal future over the next 75 years: one based upon laws currently on the books; and one that reflects selected changes to those laws that lawmakers are widely expected to make.
https://www.pgpf.org/analysis/cbo-releases-the-2010-long-term-budget-outlook
Chairman Paul Ryan's budget aims to shrink the size of government to about 20 percent of gross domestic product (GDP) in 2015 and to 15 percent of GDP in 2050.
The report focuses on the fiscal conditions in six heavily populated states which together account for a third of the nation's population and almost 40 cents of every dollar in spending by state and local governments.
https://www.pgpf.org/analysis/state-budget-crisis-task-force
The president and Congress must reach a compromise that reconciles their disagreements before September 30, or else they will risk a partial government shutdown.
https://www.pgpf.org/analysis/comparing-the-congressional-and-presidential-budgets
The President’s budget for Fiscal Year 2012 contains spending and revenue proposals for the remainder of the current year, as well as the coming decade.
In the waning days of 2012 and early hours of 2013, U.S. policymakers struggled with how to address the "fiscal cliff" — a set of scheduled tax increases and spending cuts that, if allowed to take effect, could have pushed the economy into another recession.
https://www.pgpf.org/analysis/past-the-cliff-but-not-out-of-the-woods
The President’s budget reflects a dramatically worse fiscal outlook than last year’s version released just nine months ago.
While the recession has technically ended, our economy is still suffering and far from completely recovered.