Last week, the CBO released its Preliminary Analysis of The President’s Budget, projecting a significantly worse fiscal situation than the Administration does. The cumulative deficit numbers from the CBO over the 2010-2019 period are over $2.2 trillion greater than those from OMB.
Today, the White House released an outline of the FY2010 Budget. The President’s budget has a specific fiscal goal, accounts for policies omitted by previous budgets, and proposes to fully offset new tax cut and health care plans. This paper analyzes the fiscal goals, baseline figures, health care reform, and the budget process elements of the President’s budget outline.