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  • America’s Defining Challenge: Will we leave the next generation with more opportunity?
    June 8, 2012 - In March, CBO did an economic analysis of the House Republican budget – the Path to Prosperity (P2P). That analysis showed that the P2P would increase the economy’s total output (as measured by GNP), relative to the baseline scenario, by as much as 1 percent in 2030, 3 percent in 2040 and a full 6 ... More
  • The Facts on President Obama’s Budget Record
    June 7, 2012 - Despite a promise to cut the deficit in half by the end of his first term, the President has run annual deficits in excess of $1 trillion for four years in a row. Since the President took office, annual government spending has increased by 25%, with the federal government spending $3.6 trillion thi... More
  • Correcting Distortions and Myths on Tax Relief and Deficits
    June 7, 2012 - Fueled by the unsustainable growth in government spending, the federal government’s budget deficits have increased sharply in recent years, eclipsing the $1 trillion mark the past three years and are on track to do so for a fourth. Gross public debt has already surpassed the size of the entire U.S. ... More
  • How much does the Sequester Replacement Reconciliation Act of 2012 reduce the deficit?
    May 9, 2012 - Current CBO cost estimate of SRRA: $242.8 billion in deficit reduction The House plans to consider the Sequester Replacement Reconciliation Act of 2012 (SRRA) on Thursday, May 10. This legislation replaces the deficit reduction from a “sequester” of discretionary spending that is scheduled to occur... More
  • CBO’s Economic Analysis of the President’s 2013 Budget
    April 20, 2012 - Following up on its scoring of the fiscal effects of the President’s 2013 budget, CBO today released a separate macroeconomic analysis of the policies in that budget. CBO finds that the President’s budget would shrink the economy over the longer-term, relative to current law, by as much as 2.2 perce... More
  • The Fiscal Effects of Faster Growth
    March 22, 2012 - KEY POINTS: Experts point to tax reform as an essential remedy for the short-term economic malaise as well as a steady foundation for longer-term growth and prosperity. A better-designed tax system, by incentivizing economic growth, could raise output. The rate of economic growth is one of the most... More
  • Additional Fiscal Comparisons on The Path to Prosperity
    March 20, 2012 - The report on the House Republican Budget, The Path to Prosperity, includes summary tables making comparisons to the President’s budget as re-estimated by the Congressional Budget Office (CBO). These tables show the clear choice the country faces between two fiscal futures. To provide additional inf... More
  • Analysis of the President’s Budget for FY2013
    February 24, 2012 - KEY POINTS The President’s budget spends too much – a net spending increase of $1.5 trillion above current projections. The President’s budget taxes too much – a net tax increase of $1.9 trillion above current projections. The President’s budget borrows too much: It adds over $11 trillion to the na... More
  • President's Budget Charts Path to Debt and Decline
    February 13, 2012 - The President has not merely ducked from our fiscal and economic challenges, but—with his fourth straight budget flop—he has advanced policies that dangerously accelerate the crisis before us. His gimmick-filled budget fails to reduce the fast-rising debt, permanently entrenches unsustainable levels... More
  • CBO Confirms Federal Workers Enjoy Advantages Over Private Sector Counterparts
    January 30, 2012 - Earlier today, the Congressional Budget Office (CBO) released a study confirming the differences in compensation between federal government employees and their private-sector counterparts. While millions of Americans continue to struggle with stagnant wages and high unemployment, government bureaucr... More

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