CBO

CBO: Social Security Looks Much Worse Than We Thought

Although some argue that policymakers can wait to solve our long-term entitlement problems, CBO's recent Long-Term Budget Outlook suggests otherwise. According to their projections, the Social Security program is in particular trouble -- and much worse than we thought. According to CBO's latest projections, the trust fund will become insolvent three years earlier than what we previously thought, and its long-term funding gap is 50 percent larger.

What Do High Debt Levels Do To Our Economy?

Politicians and economists have long talked about the negative effects of an accumulating national debt, but cannot always quantify their position. This week's report on the long-term budget outlook from the Congressional Budget Office (CBO) attempts to put some hard numbers behind the consequences of high debt. 

What Happened to the Alternative Fiscal Scenario?

Update: CBO has now released its official Alternative Fiscal Scenario estimates (tab 6 of the Excel). They find that debt reaches 165 percent of GDP in 2039, one year later than we estimated.

CRFB's Breakdown of the Long-Term Outlook

CBO's Long-Term Budget Outlook is a sizeable 126-page document with tons of facts and figures, and an accompanying spreadsheet with even more data. In order to help people pull out the key findings and takeaways from the report, we've condensed the document down to a concise 7-page analysis of the key facts and figures.

CBO Releases Long-Term Budget Outlook

It's here — CBO has released its updated long-term baseline. Since December, many commentators have attempted to see where we stand since the fiscal cliff deal and recent slowdown in health care cost growth, coming to very different conclusions.

SGR Bill a Good Start but More Can Be Done for Less

The Congressional Budget Office, on Friday, estimated that the Energy & Commerce Committee’s (E&C) bill to permanently replace the flawed Sustainable Growth Rate (SGR) formula is expected to cost $175.5 billion from 2014-2023, $36 billion higher than the cost of a permanent freeze in Medicare physician payments.

Budget Director: We Still Have a Long-Term Debt Problem

Reading the news these days, you might think our debt problem has been solved: the federal deficit has been revised downward and is falling to its lowest level in five years. Yesterday, however, Congressional Budget Office (CBO) Director Doug Elmendorf made clear that he, for one, does not subscribe to that view.

It's Official: Budget Projections Have Changed

Last month after the Bureau of Economic Analysis revised their GDP numbers going back to 1929, we decided to take the intiative and project what the changes would do to CBO's current ten-year budget projections.

CBO Takes a Look at the Pell Grant Program

Today, the Congressional Budget Office released a new report on Pell Grants which details the program and recent changes made to it, shows options to reform it, and possible alternatives to the existing program. Pell Grants are the largest of the federal governments' grant programs for higher education and are the primary channel for federal financial aid besides federal student loans.

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