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May 15 2013
News
Deficit projection reduced to $642 billion, CBO says
The federal budget deficit will plummet to $642 billion this year, congressional budget analysts said Tuesday, reducing their previous forecast by roughly $200 billion. The Congressional Budget Office credited recovering tax revenues and a one-time infusion of cash from mortgage giants Fannie Mae and Freddie Mac for the dramatic reduction, which puts the nation on track for its smallest
Washington PostJun 13 2012
News
Runaway Train? CBO Sounds Alarm on National Debt
A recent poll found that a shocking 51 percent of Americans believe the U.S. government will go bankrupt, and a new congressional report appears to corroborate those fears.
CBNJun 26 2018
News
CBO: Rising Interest Would Increasingly Pressure Government Finances
Rising interest rates will put increasing pressure on government finances and push interest payments to record levels in the coming decades, the Congressional Budget Office said Tuesday.
Wall Street Journal (News)Feb 01 2021
News
CBO Sees a Stronger U.S. Recovery After Stimulus Moves in 2020
The Congressional Budget Office said it sees the U.S. economy recovering from the coronavirus pandemic much faster than previously expected -- an upgrade that potentially complicates prospects for President Joe Biden’s $1.9 trillion relief plan.
The CBO, a nonpartisan arm of the legislature, forecasts gross domestic product will increase 1.7% annually from 2020-2024, according to its
BloombergMar 14 2017
Headline Roundup
CBO Report on the AHCA
The Congressional Budget Office released their findings on the Republican proposed AHCA. The CBO is a nonpartisan committee that was tasked with evaluating the outcomes of the plan.
Washington Post USA TODAY Washington TimesMar 14 2017
News
Fact check: How accurate were CBO’s Obamacare predictions?
So, was the Congressional Budget Office really “way, way off … in every aspect” of how it predicted that Obamacare would work, as the White House claims? No, it wasn’t.
The CBO actually nailed the overall impact of the law on the uninsured pretty closely. It predicted a big drop in the percentage of people under age 65 who would lack insurance, and that turned out to be the case. CBO
USA TODAYJul 13 2017
News
Trump’s budget cuts deficits, but never reaches balance: CBO
President Trump’s budget doesn’t solve the deficit, though it makes a significant dent, the Congressional Budget Office said in a new report Thursday, saying that his deep spending cuts on everything from health care to education would save an additional $3.3 trillion over the next 10 years.
Washington TimesJul 02 2017
News
Tom Price: CBO's health insurance projections are significantly off
Health and Human Services Secretary Tom Price said his administration doesn't have great faith in the Congressional Budget Office estimates of people who would no longer have health insurance under the Senate GOP's healthcare bill.
Washington ExaminerSep 21 2020
News
Federal debt held by the public to exceed GDP by next year: CBO
The coronavirus pandemic and federal efforts to provide relief will significantly add to the federal debt in the years ahead, the Congressional Budget Office projected Monday.
By the end of 2020, the federal debt held by the public is projected to be equal to 98% of gross domestic product, up from 79% in 2019.
As deficits continue to rise next year, the debt is expected to reach
Washington ExaminerNov 19 2021
Analysis
CBO: Biden's 'Build Back Better' Plan Will Add $367 Billion to the Deficit
For months, the White House has been promising that President Joe Biden's massive social spending package would be fully paid for—that is, that tax increases and other revenue-generating aspects of the "Build Back Better" plan would fully offset the nearly $1.7 trillion in proposed new spending.
We now know that's not true.
Biden's plan will add $367 billion to the budget deficit
Reason