March 2015
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An Analysis of the President's 2016 Budget
March 12, 2015CBO projects the President’s budget would result in deficits totaling $6.0 trillion between 2016 and 2025, $1.2 trillion less than under CBO’s current-law baseline. By 2025, debt would total about $1 trillion less than in CBO’s baseline.
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Federal Contracts and the Contracted Workforce
March 11, 2015Federal agencies spent over $500 billion for contracted products and services in 2012, according to federal data. Between 2000 and 2012, such spending grew more quickly than inflation and also grew as a percentage of total federal spending.
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Looking Back at CBO's 40th Anniversary Celebration
March 11, 2015CBO celebrated its 40th anniversary two weeks ago and hosted an event at the U.S. Capitol. CBO was honored to receive congratulatory remarks from both the House and Senate Budget Committees, and was delighted to host its former directors.
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Testimony on CBO’s Appropriation Request for Fiscal Year 2016
March 10, 2015CBO Director Douglas W. Elmendorf testified on CBO’s appropriation request for fiscal year 2016 before the Subcommittee on the Legislative Branch, Committee on Appropriations, United States Senate.
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CBO to Release Analysis of the President’s FY 2016 Budget on Thursday
March 9, 2015CBO plans to release its analysis of the President’s budget (which the agency conducts in collaboration with the staff of the Joint Committee on Taxation) at 11:00 am on Thursday, March 12, 2015.
Deborah Kilroe is CBO’s Associate Director for Communications.
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Monthly Budget Review for February 2015
March 9, 2015The federal government ran a budget deficit of $386 billion for the first five months of fiscal year 2015, CBO estimates—$10 billion more than the shortfall recorded in the same span last year.
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Updated Budget Projections: 2015 to 2025
March 9, 2015Under current law, CBO estimates the deficit will total 2.7 percent of GDP in 2015, drop to roughly 2.4 percent for the following three years, and then begin to rise. By 2025, debt held by the public is projected to reach 77 percent of GDP.
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CBO To Delay Release of Updated Baseline Projections to Monday
March 5, 2015Because weather conditions have led the federal government in Washington, DC, to close today, CBO will delay the release of its updated 10-year baseline projections of federal spending, revenues, and budget deficits until Monday, March 9.
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Federal Debt and the Statutory Limit, March 2015
March 3, 2015Under current law, as of March 16, the Treasury will be at the statutory borrowing limit and will need to use so-called extraordinary measures to continue raising cash. Those measures would probably be exhausted by October or November.
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CBO To Release Updated Baseline Projections Friday and Analysis of the President’s FY 2016 Budget Next Week
March 3, 2015On Friday, March 6, CBO will release its updated 10-year baseline projections of federal spending, revenues, and budget deficits reflecting new information obtained since the January release of the Budget and Economic Outlook: 2015 to 2025.
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